Medtronic plc (NYSE:MDT) Stock Position Lowered by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. decreased its position in Medtronic plc (NYSE:MDT - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,633 shares of the medical technology company's stock after selling 11,077 shares during the quarter. Medtronic comprises approximately 1.4% of Sompo Asset Management Co. Ltd.'s holdings, making the stock its 16th largest position. Sompo Asset Management Co. Ltd.'s holdings in Medtronic were worth $8,358,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MDT. Coppell Advisory Solutions LLC lifted its position in shares of Medtronic by 13.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 2,095 shares of the medical technology company's stock valued at $167,000 after acquiring an additional 248 shares during the last quarter. MGO One Seven LLC raised its holdings in shares of Medtronic by 2.1% during the fourth quarter. MGO One Seven LLC now owns 22,219 shares of the medical technology company's stock valued at $1,775,000 after acquiring an additional 449 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Medtronic by 1.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,041,286 shares of the medical technology company's stock valued at $562,460,000 after acquiring an additional 105,263 shares in the last quarter. Dark Forest Capital Management LP boosted its stake in Medtronic by 183.8% in the 4th quarter. Dark Forest Capital Management LP now owns 16,644 shares of the medical technology company's stock worth $1,330,000 after purchasing an additional 10,779 shares during the period. Finally, Alta Advisers Ltd grew its position in Medtronic by 19.6% during the 4th quarter. Alta Advisers Ltd now owns 4,185 shares of the medical technology company's stock worth $334,000 after purchasing an additional 685 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

NYSE MDT opened at $83.39 on Wednesday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The stock's 50-day moving average is $88.54 and its two-hundred day moving average is $87.34. The firm has a market cap of $106.95 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. 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 (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio is currently 85.11%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. UBS Group increased their price objective on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Royal Bank of Canada reissued an "outperform" rating and issued 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 assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $96.14.

Insider Transactions at Medtronic

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

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.

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