Bank Julius Baer & Co. Ltd Zurich Purchases 568,107 Shares of Medtronic plc (NYSE:MDT)

Bank Julius Baer & Co. Ltd Zurich raised its position in Medtronic plc (NYSE:MDT - Free Report) by 174.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 894,086 shares of the medical technology company's stock after buying an additional 568,107 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned about 0.07% of Medtronic worth $75,994,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Machina Capital S.A.S. acquired a new position in Medtronic during the fourth quarter valued at approximately $1,534,000. Aviance Capital Partners LLC lifted its position in shares of Medtronic by 9.9% during the 4th quarter. Aviance Capital Partners LLC now owns 4,376 shares of the medical technology company's stock worth $350,000 after buying an additional 396 shares during the last quarter. AMG National Trust Bank boosted its stake in Medtronic by 10.6% in the fourth quarter. AMG National Trust Bank now owns 2,760 shares of the medical technology company's stock valued at $220,000 after buying an additional 265 shares in the last quarter. Andra AP fonden grew its position in Medtronic by 153.3% in the fourth quarter. Andra AP fonden now owns 46,929 shares of the medical technology company's stock valued at $3,749,000 after acquiring an additional 28,400 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its stake in Medtronic by 68.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 22,576 shares of the medical technology company's stock worth $1,819,000 after acquiring an additional 9,181 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MDT shares. UBS Group lifted their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Barclays increased their target price on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Medtronic presently has an average rating of "Hold" and a consensus target price of $96.07.

Medtronic Trading Down 0.4 %

Medtronic stock traded down $0.36 during mid-day trading on Tuesday, hitting $93.44. 7,300,420 shares of the stock were exchanged, compared to its average volume of 6,054,886. The stock has a market capitalization of $119.85 billion, a price-to-earnings ratio of 28.40, 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 quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm's fifty day simple moving average is $88.62 and its two-hundred day simple moving average is $87.84.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. Medtronic's payout ratio is 85.11%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

About Medtronic

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.