Robeco Institutional Asset Management B.V. Raises Holdings in Medtronic plc (NYSE:MDT)

Robeco Institutional Asset Management B.V. boosted its stake in Medtronic plc (NYSE:MDT - Free Report) by 9.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 859,530 shares of the medical technology company's stock after buying an additional 74,963 shares during the period. Robeco Institutional Asset Management B.V. owned 0.07% of Medtronic worth $68,659,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the third quarter valued at $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the 3rd quarter worth about $30,000. Finally, Chelsea Counsel Co. purchased a new position in Medtronic during the 3rd quarter valued at about $45,000. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on MDT shares. Sanford C. Bernstein upped their price target on Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. Royal Bank of Canada raised Medtronic from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. 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 report on Wednesday, November 20th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. Finally, Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $95.00.

Medtronic Stock Performance

MDT stock traded up $0.17 during trading on Thursday, reaching $91.58. The stock had a trading volume of 1,028,268 shares, compared to its average volume of 7,555,526. The firm has a market cap of $117.43 billion, a PE ratio of 28.00, a PEG ratio of 2.49 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock's 50 day moving average is $84.14 and its two-hundred day moving average is $85.87. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company's revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 EPS. As a group, equities analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's payout ratio is 85.63%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on 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 approximately $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company's stock.

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.