Banque de Luxembourg S.A. Makes New $8.40 Million Investment in Medtronic plc (NYSE:MDT)

Banque de Luxembourg S.A. bought a new stake in shares of Medtronic plc (NYSE:MDT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 104,753 shares of the medical technology company's stock, valued at approximately $8,401,000. Medtronic accounts for approximately 4.5% of Banque de Luxembourg S.A.'s investment portfolio, making the stock its 8th largest holding.

Other hedge funds also recently modified their holdings of the company. Franklin Street Advisors Inc. NC grew its position in shares of Medtronic by 32.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock worth $5,873,000 after buying an additional 18,057 shares during the period. Olstein Capital Management L.P. increased its position in shares of Medtronic by 8.0% in the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock valued at $7,509,000 after buying an additional 7,000 shares in the last quarter. Czech National Bank lifted its holdings in Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock worth $22,212,000 after acquiring an additional 16,786 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Medtronic by 2.7% in the fourth quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company's stock worth $8,453,000 after acquiring an additional 2,778 shares in the last quarter. Finally, Talbot Financial LLC lifted its holdings in shares of Medtronic by 6.4% during the 4th quarter. Talbot Financial LLC now owns 133,453 shares of the medical technology company's stock valued at $10,660,000 after purchasing an additional 8,031 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on MDT shares. 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 report on Wednesday, February 19th. UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Citigroup raised shares of 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $96.14.

Medtronic Stock Performance

MDT traded up $0.31 during trading on Friday, hitting $83.93. The stock had a trading volume of 4,287,948 shares, compared to its average volume of 6,707,523. 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 firm has a market cap of $107.64 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 2.22 and a beta of 0.81. The company has a 50 day moving average price of $86.95 and a 200-day moving average price of $86.88. Medtronic plc has a one year low of $75.96 and a one year high of $96.25.

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 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 for the quarter, compared to analyst estimates of $8.33 billion. As a group, research analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio is currently 85.11%.

Medtronic Profile

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.