BDF Gestion Trims Stock Position in Medtronic plc (NYSE:MDT)

BDF Gestion decreased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,523 shares of the medical technology company's stock after selling 2,797 shares during the quarter. BDF Gestion's holdings in Medtronic were worth $1,719,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. Synergy Asset Management LLC lifted its holdings in shares of Medtronic by 107.1% in the 4th quarter. Synergy Asset Management LLC now owns 227,802 shares of the medical technology company's stock valued at $19,353,000 after purchasing an additional 117,809 shares during the last quarter. Gries Financial LLC purchased a new stake in Medtronic in the fourth quarter valued at approximately $207,000. Franklin Parlapiano Turner & Welch LLC boosted its holdings in shares of Medtronic by 0.8% in the fourth quarter. Franklin Parlapiano Turner & Welch LLC now owns 87,325 shares of the medical technology company's stock valued at $6,975,000 after acquiring an additional 702 shares during the period. Baader Bank Aktiengesellschaft grew its position in shares of Medtronic by 61.7% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 20,393 shares of the medical technology company's stock worth $1,629,000 after acquiring an additional 7,780 shares during the last quarter. Finally, Hanson & Doremus Investment Management increased its holdings in shares of Medtronic by 1.3% in the 4th quarter. Hanson & Doremus Investment Management now owns 48,804 shares of the medical technology company's stock valued at $3,898,000 after acquiring an additional 639 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of MDT stock traded down $0.27 during midday trading on Monday, reaching $90.55. 5,791,710 shares of the company traded hands, compared to its average volume of 7,567,563. The firm's 50 day simple moving average is $84.38 and its two-hundred day simple moving average is $86.09. The firm has a market cap of $116.11 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.09%. Medtronic's dividend payout ratio (DPR) is currently 85.63%.

Analyst Ratings Changes

Several brokerages have issued reports on MDT. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein boosted their price target on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Barclays increased their price objective on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Medtronic currently has an average rating of "Hold" and an average price target of $95.00.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm'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 transaction, the executive vice president now owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company 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.