Edmond DE Rothschild Holding S.A. Sells 37,652 Shares of Medtronic plc (NYSE:MDT)

Edmond DE Rothschild Holding S.A. lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 674,858 shares of the medical technology company’s stock after selling 37,652 shares during the quarter. Medtronic accounts for approximately 0.9% of Edmond DE Rothschild Holding S.A.’s portfolio, making the stock its 23rd largest position. Edmond DE Rothschild Holding S.A.’s holdings in Medtronic were worth $53,908,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its stake in Medtronic by 21.0% during the 3rd quarter. FMR LLC now owns 1,839,569 shares of the medical technology company’s stock valued at $165,616,000 after purchasing an additional 319,256 shares during the last quarter. Fred Alger Management LLC boosted its position in shares of Medtronic by 6.9% during the third quarter. Fred Alger Management LLC now owns 36,801 shares of the medical technology company’s stock valued at $3,313,000 after buying an additional 2,390 shares during the last quarter. PDT Partners LLC bought a new stake in Medtronic during the third quarter worth $522,000. Edgestream Partners L.P. raised its position in Medtronic by 682.9% in the 3rd quarter. Edgestream Partners L.P. now owns 23,737 shares of the medical technology company’s stock valued at $2,137,000 after buying an additional 20,705 shares during the last quarter. Finally, Bellevue Group AG lifted its stake in Medtronic by 0.7% during the 3rd quarter. Bellevue Group AG now owns 1,008,633 shares of the medical technology company’s stock valued at $90,807,000 after acquiring an additional 6,886 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $87.62 on Monday. The firm’s 50 day moving average is $90.98 and its 200 day moving average is $87.99. The stock has a market capitalization of $112.38 billion, a P/E ratio of 26.63, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, sell-side analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is presently 85.11%.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several analyst reports. UBS Group increased their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Robert W. Baird boosted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $96.07.

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.