Rockefeller Capital Management L.P. Has $34.19 Million Position in Medtronic plc (NYSE:MDT)

Rockefeller Capital Management L.P. cut its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 427,969 shares of the medical technology company's stock after selling 76,876 shares during the period. Rockefeller Capital Management L.P.'s holdings in Medtronic were worth $34,187,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mainstream Capital Management LLC purchased a new stake in Medtronic during the 4th quarter worth $26,000. Stephens Consulting LLC grew its stake in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 294 shares during the period. Fiduciary Advisors Inc. acquired a new position in shares of Medtronic during the 4th quarter valued at $36,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Medtronic in the 4th quarter worth $40,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Down 2.3 %

Shares of Medtronic stock traded down $1.96 on Tuesday, hitting $82.26. 5,524,849 shares of the company's stock traded hands, compared to its average volume of 6,676,044. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The stock has a market capitalization of $105.51 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The firm's 50-day moving average price is $89.56 and its two-hundred day moving average price is $87.60.

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Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio is currently 85.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MDT. Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. UBS Group upped their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Finally, Truist Financial lowered their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $96.14.

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.