Thematics Asset Management Decreases Holdings in Medtronic plc (NYSE:MDT)

Thematics Asset Management lowered its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 28.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 235,075 shares of the medical technology company's stock after selling 92,361 shares during the quarter. Thematics Asset Management's holdings in Medtronic were worth $18,778,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MDT. Morse Asset Management Inc acquired a new position in Medtronic during the third quarter worth $225,000. Te Ahumairangi Investment Management Ltd lifted its stake in Medtronic by 4.1% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company's stock valued at $4,684,000 after buying an additional 2,050 shares in the last quarter. Chelsea Counsel Co. purchased a new stake in Medtronic during the 3rd quarter worth approximately $45,000. Tudor Financial Inc. purchased a new stake in Medtronic during the 3rd quarter worth approximately $586,000. Finally, Anchor Investment Management LLC lifted its position in shares of Medtronic by 1.2% in the third quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company's stock valued at $9,680,000 after acquiring an additional 1,271 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Up 0.6 %

Shares of Medtronic stock traded up $0.49 on Thursday, reaching $84.24. The company had a trading volume of 5,958,691 shares, compared to its average volume of 6,671,120. 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. The firm's 50 day moving average price is $88.36 and its two-hundred day moving average price is $87.31. The firm has a market cap of $108.04 billion, a PE ratio of 25.60, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly 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. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MDT shares. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird raised their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Truist Financial dropped their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Citigroup upgraded 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. One investment analyst has rated the stock with a sell rating, eight have issued 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.

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.