Cresset Asset Management LLC Has $17.04 Million Position in Medtronic plc (NYSE:MDT)

Cresset Asset Management LLC lessened its holdings in Medtronic plc (NYSE:MDT - Free Report) by 36.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 211,936 shares of the medical technology company's stock after selling 123,693 shares during the period. Cresset Asset Management LLC's holdings in Medtronic were worth $17,038,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MDT. Norges Bank purchased a new stake in shares of Medtronic during the 4th quarter worth about $1,163,580,000. Raymond James Financial Inc. acquired a new position in Medtronic in the fourth quarter worth approximately $852,732,000. Beutel Goodman & Co Ltd. bought a new position in Medtronic during the fourth quarter valued at approximately $377,169,000. Van ECK Associates Corp lifted its stake in Medtronic by 2,043.4% in the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company's stock valued at $207,540,000 after acquiring an additional 2,476,935 shares during the last quarter. Finally, Invesco Ltd. grew its position in Medtronic by 17.8% in the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock worth $1,233,769,000 after acquiring an additional 2,333,600 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Trading Down 0.2 %

NYSE:MDT traded down $0.15 during trading hours on Friday, hitting $83.47. 6,587,919 shares of the stock were exchanged, compared to its average volume of 6,720,751. The company has a market capitalization of $107.05 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company's 50 day moving average is $86.76 and its two-hundred day moving average is $86.83. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.35%. Medtronic's payout ratio is presently 85.11%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MDT shares. UBS Group lifted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial lowered their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird lifted 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Medtronic presently has an average rating of "Hold" and an average price target of $96.14.

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.