Mizuho Securities USA LLC Has $9.23 Million Stock Position in Medtronic PLC (NYSE:MDT)

Mizuho Securities USA LLC reduced its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,672 shares of the medical technology company's stock after selling 18,877 shares during the period. Mizuho Securities USA LLC's holdings in Medtronic were worth $9,226,000 at the end of the most recent reporting period.

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Several other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after buying an additional 37,265 shares in the last quarter. FMR LLC increased its holdings in shares of Medtronic by 14.4% during the fourth quarter. FMR LLC now owns 2,104,985 shares of the medical technology company's stock worth $168,146,000 after buying an additional 265,416 shares in the last quarter. FIL Ltd increased its holdings in shares of Medtronic by 16.0% during the fourth quarter. FIL Ltd now owns 5,414 shares of the medical technology company's stock worth $432,000 after buying an additional 748 shares in the last quarter. CenterBook Partners LP increased its holdings in shares of Medtronic by 86.4% during the fourth quarter. CenterBook Partners LP now owns 16,344 shares of the medical technology company's stock worth $1,306,000 after buying an additional 7,577 shares in the last quarter. Finally, Phoenix Financial Ltd. increased its holdings in shares of Medtronic by 5.8% during the fourth quarter. Phoenix Financial Ltd. now owns 5,014 shares of the medical technology company's stock worth $403,000 after buying an additional 277 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada lowered their price target on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a report on Saturday. Mizuho increased their price objective on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Truist Financial decreased their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Finally, Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $98.19.

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Read Our Latest Stock Report on Medtronic

Medtronic Stock Performance

Shares of MDT opened at $92.94 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $119.13 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 2.37 and a beta of 0.80. The firm's fifty day simple moving average is $88.65 and its two-hundred day simple moving average is $87.93. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25.

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Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 earnings per share. As a group, analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a dividend of $0.71 per share. This is a boost from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's payout ratio is currently 78.45%.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.

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