Medtronic plc (NYSE:MDT) Holdings Trimmed by Lmcg Investments LLC

Lmcg Investments LLC lowered its holdings in Medtronic plc (NYSE:MDT) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,829 shares of the medical technology company’s stock after selling 2,563 shares during the period. Lmcg Investments LLC’s holdings in Medtronic were worth $1,744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MDT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Medtronic by 436.7% during the third 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 valued at $661,125,000 after buying an additional 5,975,110 shares during the period. Bank of Montreal Can lifted its position in shares of Medtronic by 65.0% in the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock worth $406,122,000 after purchasing an additional 1,790,483 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Medtronic by 1,195.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after purchasing an additional 1,695,800 shares during the period. Janus Henderson Group PLC grew its position in Medtronic by 58.4% during the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock valued at $346,705,000 after purchasing an additional 1,420,263 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Medtronic by 8,908.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after buying an additional 1,284,002 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of several research analyst reports. Barclays boosted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Robert W. Baird lowered their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein raised their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Stock Up 0.3 %

Medtronic stock opened at $88.35 on Wednesday. The firm has a market cap of $113.29 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 2.49 and a beta of 0.83. The firm has a fifty day moving average price of $83.64 and a two-hundred day moving average price of $85.29. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Medtronic Company 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.