Medtronic plc (NYSE:MDT) Stake Decreased by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 442,407 shares of the medical technology company’s stock after selling 29,719 shares during the period. Vontobel Holding Ltd.’s holdings in Medtronic were worth $35,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MDT. Cornerstone Wealth Management LLC raised its holdings in shares of Medtronic by 4.8% during the third quarter. Cornerstone Wealth Management LLC now owns 12,778 shares of the medical technology company’s stock valued at $1,150,000 after buying an additional 586 shares during the last quarter. Good Life Advisors LLC raised its holdings in Medtronic by 7.7% during the third quarter. Good Life Advisors LLC now owns 3,870 shares of the medical technology company’s stock worth $348,000 after purchasing an additional 276 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Medtronic by 13.9% during the third quarter. Bleakley Financial Group LLC now owns 63,622 shares of the medical technology company’s stock worth $5,728,000 after purchasing an additional 7,786 shares in the last quarter. Teamwork Financial Advisors LLC bought a new stake in Medtronic during the third quarter worth approximately $217,000. Finally, Cardinal Capital Management raised its holdings in Medtronic by 1.1% during the third quarter. Cardinal Capital Management now owns 71,537 shares of the medical technology company’s stock worth $6,490,000 after purchasing an additional 770 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Robert W. Baird dropped their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Truist Financial decreased their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock 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 the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Medtronic Price Performance

Shares of NYSE:MDT opened at $93.02 on Friday. The company’s fifty day moving average is $85.33 and its two-hundred day moving average is $86.72. 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 12-month low of $75.96 and a 12-month high of $93.08. The company has a market cap of $119.28 billion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 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.