Voya Investment Management LLC Has $69.16 Million Holdings in Medtronic plc (NYSE:MDT)

Posted by Defense World Staff on Jun 18th, 2023

Voya Investment Management LLC grew its stake in Medtronic plc (NYSE:MDT – Get Rating) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 889,916 shares of the medical technology company’s stock after purchasing an additional 15,806 shares during the period. Voya Investment Management LLC owned about 0.07% of Medtronic worth $69,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MDT. Fairfield Bush & CO. acquired a new stake in Medtronic in the 1st quarter worth $47,000. MAS Advisors LLC lifted its holdings in shares of Medtronic by 10.3% during the 1st quarter. MAS Advisors LLC now owns 2,388 shares of the medical technology company’s stock worth $266,000 after acquiring an additional 223 shares during the period. LSV Asset Management lifted its holdings in shares of Medtronic by 34.5% during the 1st quarter. LSV Asset Management now owns 7,400 shares of the medical technology company’s stock worth $821,000 after acquiring an additional 1,900 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Medtronic by 22.8% during the 1st quarter. NewEdge Advisors LLC now owns 74,914 shares of the medical technology company’s stock worth $8,312,000 after acquiring an additional 13,895 shares during the period. Finally, Kinneret Advisory LLC lifted its holdings in shares of Medtronic by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 15,340 shares of the medical technology company’s stock worth $1,712,000 after acquiring an additional 343 shares during the period. 80.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on MDT. Barclays raised shares of Medtronic from an “equal weight” rating to an “overweight” rating in a report on Monday, April 24th. Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $90.00 in a report on Friday, May 26th. Morgan Stanley raised shares of Medtronic from an “equal weight” rating to an “overweight” rating and set a $104.00 price objective for the company in a report on Tuesday, May 30th. Sanford C. Bernstein cut their price target on shares of Medtronic from $100.00 to $99.00 in a report on Friday, May 26th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $89.00 price target on shares of Medtronic in a report on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Medtronic presently has an average rating of “Hold” and an average target price of $89.53.

Medtronic Stock Up 1.0 %

Shares of NYSE:MDT opened at $89.15 on Friday. Medtronic plc has a one year low of $75.76 and a one year high of $95.60. The company has a 50 day moving average of $86.24 and a 200-day moving average of $82.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.39 and a quick ratio of 1.81. The stock has a market cap of $118.61 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 2.84 and a beta of 0.71.

Medtronic (NYSE:MDT – Get Rating) last issued its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.56 by $0.01. Medtronic had a net margin of 12.03% and a return on equity of 13.54%. The company had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the previous year, the company earned $1.52 EPS. Medtronic’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Medtronic plc will post 5.05 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 23rd will be issued a dividend of $0.69 per share. The ex-dividend date is Thursday, June 22nd. This represents a $2.76 dividend on an annualized basis and a yield of 3.10%. This is a boost from Medtronic’s previous quarterly dividend of $0.68. Medtronic’s payout ratio is currently 96.45%.

Medtronic Profile

(Get Rating)

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.