BDF Gestion Sells 2,797 Shares of Medtronic plc (NYSE:MDT)

BDF Gestion lowered its stake in shares of Medtronic plc (NYSE:MDT) by 11.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 21,523 shares of the medical technology company’s stock after selling 2,797 shares during the quarter. BDF Gestion’s holdings in Medtronic were worth $1,719,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. State Street Corp grew its position in shares of Medtronic by 0.9% during the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after acquiring an additional 520,027 shares during the period. Pzena Investment Management LLC boosted its holdings in Medtronic by 3.3% in the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock worth $772,727,000 after buying an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after buying an additional 5,975,110 shares in the last quarter. Raymond James & Associates raised its holdings in Medtronic by 2.3% during the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after acquiring an additional 145,504 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Medtronic by 11.5% in the third quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock valued at $530,612,000 after acquiring an additional 609,391 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.7 %

NYSE MDT opened at $92.01 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The firm has a market capitalization of $117.98 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.59 and a beta of 0.83. The company has a fifty day moving average of $84.14 and a two-hundred day moving average of $85.87.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the previous year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays increased their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average target price of $95.00.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

About Medtronic

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.