Lombard Odier Asset Management Europe Ltd decreased its position in shares of Medtronic PLC (NYSE:MDT – Free Report) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,443 shares of the medical technology company’s stock after selling 5,978 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Medtronic were worth $12,603,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Madison Asset Management LLC raised its position in shares of Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after acquiring an additional 25,527 shares during the last quarter. Ticino Wealth bought a new stake in shares of Medtronic in the 4th quarter valued at $2,049,000. First Eagle Investment Management LLC raised its holdings in shares of Medtronic by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock valued at $939,009,000 after purchasing an additional 40,196 shares during the period. KBC Group NV raised its stake in Medtronic by 5.2% during the 4th quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock worth $41,354,000 after buying an additional 21,384 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Medtronic by 12.7% during the fourth quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock worth $75,988,000 after purchasing an additional 89,111 shares during the period. 82.06% of the stock is currently owned by institutional investors.
Medtronic Stock Up 0.3%
Shares of NYSE:MDT opened at $85.64 on Monday. The firm has a fifty day moving average of $80.94 and a 200 day moving average of $87.00. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The firm has a market capitalization of $109.62 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 2.29 and a beta of 0.55.
Medtronic Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were paid a $0.72 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. Medtronic’s payout ratio is presently 77.21%.
Analysts Set New Price Targets
A number of research firms recently weighed in on MDT. Wells Fargo & Company lowered their target price on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $118.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a report on Wednesday, June 3rd. Robert W. Baird dropped their price objective on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Finally, TD Cowen dropped their target price on Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.83.
Get Our Latest Research Report on Medtronic
Insider Activity at Medtronic
In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by insiders.
About Medtronic
Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.
Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).
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