BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 8,141 Shares of Medtronic plc (NYSE:MDT)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Medtronic plc (NYSE:MDT) by 1.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 781,261 shares of the medical technology company’s stock after buying an additional 8,141 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Medtronic were worth $68,087,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Equity Investment Corp boosted its position in Medtronic by 27.9% during the fourth quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock worth $110,478,000 after purchasing an additional 292,459 shares during the period. Loudon Investment Management LLC lifted its position in shares of Medtronic by 9.5% during the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock worth $786,000 after acquiring an additional 874 shares in the last quarter. BKM Wealth Management LLC bought a new position in Medtronic in the 4th quarter worth about $941,000. Chemung Canal Trust Co. grew its holdings in Medtronic by 1,467.5% during the 1st quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock valued at $4,175,000 after buying an additional 44,846 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Medtronic by 8,340.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock valued at $85,558,000 after buying an additional 1,026,274 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Medtronic

In other news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $83.77, for a total value of $1,601,096.01. Following the transaction, the chief executive officer now directly owns 143,348 shares in the company, valued at approximately $12,008,261.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

Medtronic Stock Up 2.3 %

Shares of NYSE MDT traded up $1.89 during midday trading on Thursday, hitting $83.15. The stock had a trading volume of 2,351,704 shares, compared to its average volume of 6,282,651. The company has a market cap of $106.62 billion, a P/E ratio of 29.56, a PEG ratio of 2.28 and a beta of 0.82. The business’s 50 day moving average is $81.03 and its 200-day moving average is $83.11. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.00. The company has a quick ratio of 1.55, a current ratio of 2.03 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.45 by $0.01. The company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. Medtronic’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company earned $1.57 EPS. As a group, analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Friday, June 28th. This is an increase from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s payout ratio is 101.82%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MDT shares. The Goldman Sachs Group assumed coverage on shares of Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Truist Financial lowered their price target on Medtronic from $88.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Finally, UBS Group boosted their target price on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $90.82.

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.