Groupama Asset Managment Sells 113,414 Shares of Medtronic plc (NYSE:MDT)

Groupama Asset Managment decreased its position in Medtronic plc (NYSE:MDT - Free Report) by 62.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,681 shares of the medical technology company's stock after selling 113,414 shares during the quarter. Groupama Asset Managment's holdings in Medtronic were worth $5,389,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC grew its position in Medtronic by 21.0% in the third quarter. FMR LLC now owns 1,839,569 shares of the medical technology company's stock valued at $165,616,000 after purchasing an additional 319,256 shares in the last quarter. PDT Partners LLC bought a new position in shares of Medtronic in the 3rd quarter valued at about $522,000. Edgestream Partners L.P. increased its position in shares of Medtronic by 682.9% in the third quarter. Edgestream Partners L.P. now owns 23,737 shares of the medical technology company's stock valued at $2,137,000 after acquiring an additional 20,705 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Medtronic in the third quarter valued at about $568,000. Finally, Ascent Group LLC bought a new stake in Medtronic during the third quarter worth about $476,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

MDT stock traded down $5.03 during trading hours on Friday, hitting $82.86. 12,031,524 shares of the stock were exchanged, compared to its average volume of 6,610,094. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $106.28 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a 50-day simple moving average of $90.87 and a two-hundred day simple moving average of $87.93.

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Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business 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 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. Medtronic's payout ratio is 85.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of analyst reports. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Truist Financial dropped 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. Robert W. Baird lifted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Finally, UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Medtronic currently has an average rating of "Hold" and an average target price of $96.07.

Medtronic 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.