Medtronic plc (NYSE:MDT) Shares Acquired by Robeco Schweiz AG

Robeco Schweiz AG increased its stake in shares of Medtronic plc (NYSE:MDT) by 40.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 145,807 shares of the medical technology company’s stock after purchasing an additional 41,902 shares during the period. Robeco Schweiz AG’s holdings in Medtronic were worth $11,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MDT. Highline Wealth Partners LLC purchased a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the third quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic during the third quarter worth approximately $27,000. Stephens Consulting LLC raised its stake in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares during the last quarter. Finally, J. Stern & Co. LLP purchased a new position in Medtronic in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In other 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 sale, the executive vice president now directly 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 filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. UBS Group upped their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Up 0.1 %

Shares of NYSE:MDT opened at $90.58 on Thursday. The company has a market capitalization of $116.15 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 2.22 and a beta of 0.84. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The business has a 50-day moving average price of $86.65 and a 200 day moving average price of $87.32. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is 85.11%.

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.