Medtronic plc (NYSE:MDT) Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. reduced its stake in Medtronic plc (NYSE:MDT - Free Report) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 674,858 shares of the medical technology company's stock after selling 37,652 shares during the period. Medtronic accounts for about 0.9% of Edmond DE Rothschild Holding S.A.'s holdings, making the stock its 23rd biggest position. Edmond DE Rothschild Holding S.A. owned 0.05% of Medtronic worth $53,908,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Vanguard Group Inc. boosted its position in shares of Medtronic by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock valued at $9,921,367,000 after purchasing an additional 754,395 shares during the period. State Street Corp lifted its stake in Medtronic by 0.9% in the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company's stock valued at $5,509,155,000 after buying an additional 520,027 shares during the last quarter. Norges Bank acquired a new stake in shares of Medtronic in the fourth quarter valued at approximately $1,163,580,000. Raymond James Financial Inc. purchased a new position in shares of Medtronic during the fourth quarter worth approximately $852,732,000. Finally, First Eagle Investment Management LLC increased its holdings in shares of Medtronic by 0.3% in the 4th quarter. First Eagle Investment Management LLC now owns 9,792,200 shares of the medical technology company's stock valued at $782,201,000 after acquiring an additional 28,910 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

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Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company's stock.

Medtronic Price Performance

Shares of NYSE:MDT traded down $1.38 during trading on Tuesday, hitting $88.48. 7,059,371 shares of the stock were exchanged, compared to its average volume of 6,569,849. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a market cap of $113.48 billion, a PE ratio of 26.89, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a fifty day moving average price of $91.02 and a two-hundred day moving average price of $87.99. 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 - Get Free Report) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio is presently 85.11%.

Analysts Set New Price Targets

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

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.