Axa S.A. Sells 72,405 Shares of Medtronic plc (NYSE:MDT)

AXA S.A. decreased its stake in Medtronic plc (NYSE:MDT - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 731,674 shares of the medical technology company's stock after selling 72,405 shares during the period. AXA S.A. owned 0.06% of Medtronic worth $58,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new position in shares of Medtronic in the 4th quarter valued at about $26,000. Stephens Consulting LLC lifted its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after buying an additional 204 shares during the period. Rakuten Securities Inc. boosted its holdings in shares of Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after buying an additional 294 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $31,000. Finally, Fiduciary Advisors Inc. bought a new stake in shares of Medtronic in the 4th quarter valued at $36,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

NYSE MDT traded up $0.80 during trading on Wednesday, hitting $83.12. 7,441,553 shares of the company's stock traded hands, compared to its average volume of 6,701,223. The stock has a market capitalization of $106.60 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 2.22 and a beta of 0.81. 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 business has a 50 day moving average of $87.34 and a 200-day moving average of $86.96. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.37%. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One research 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. According to MarketBeat.com, the company presently 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.