Aster Capital Management DIFC Ltd Lowers Stock Position in Medtronic plc (NYSE:MDT)

Aster Capital Management DIFC Ltd cut its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 97.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,094 shares of the medical technology company's stock after selling 45,122 shares during the period. Aster Capital Management DIFC Ltd's holdings in Medtronic were worth $87,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Medtronic by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock worth $9,921,367,000 after acquiring an additional 754,395 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Medtronic by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock valued at $2,155,085,000 after purchasing an additional 574,055 shares in the last quarter. Norges Bank bought a new stake in Medtronic in the 4th quarter worth about $1,163,580,000. Raymond James Financial Inc. purchased a new stake in Medtronic in the 4th quarter valued at about $852,732,000. Finally, First Eagle Investment Management LLC lifted its position in shares of Medtronic by 0.3% during the 4th quarter. First Eagle Investment Management LLC now owns 9,792,200 shares of the medical technology company's stock worth $782,201,000 after buying an additional 28,910 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MDT shares. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and upped their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Robert W. Baird boosted 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. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $96.14.

Medtronic Stock Performance

MDT stock traded up $0.15 during midday trading on Friday, reaching $82.69. 8,011,993 shares of the company's stock traded hands, compared to its average volume of 6,683,754. The firm has a market capitalization of $106.05 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The company has a 50-day moving average price of $89.71 and a two-hundred day moving average price of $87.63. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. As a group, equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.39%. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Insider Activity at Medtronic

In related 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 sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

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.