Flossbach Von Storch SE Sells 92,271 Shares of Medtronic plc (NYSE:MDT)

Flossbach Von Storch SE trimmed its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,071,032 shares of the medical technology company's stock after selling 92,271 shares during the period. Flossbach Von Storch SE owned about 0.16% of Medtronic worth $165,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. State Street Corp boosted 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 acquiring an additional 520,027 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of Medtronic by 3.3% in the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock worth $772,727,000 after purchasing an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Medtronic by 436.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after purchasing an additional 5,975,110 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Medtronic by 11.5% during the third quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company's stock valued at $530,612,000 after purchasing an additional 609,391 shares during the period. Finally, Stifel Financial Corp increased its position in Medtronic by 2.9% in the third quarter. Stifel Financial Corp now owns 5,842,020 shares of the medical technology company's stock worth $525,960,000 after buying an additional 164,700 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Medtronic Trading Up 2.3 %

NYSE MDT traded up $2.01 during trading on Friday, hitting $89.95. 11,600,480 shares of the company's stock traded hands, compared to its average volume of 7,464,932. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The stock has a fifty day moving average of $85.93 and a two-hundred day moving average of $87.03. The firm has a market cap of $115.34 billion, a P/E ratio of 27.34, a PEG ratio of 2.46 and a beta of 0.84.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for 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%. As a group, sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Medtronic's dividend payout ratio is currently 85.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDT. UBS Group boosted their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday. Robert W. Baird raised their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday. Truist Financial decreased their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their target price on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 20th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $95.20.

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.