Groupama Asset Managment Sells 21,877 Shares of Medtronic PLC $MDT

Key Points

• Groupama Asset Management reduced its stake in Medtronic PLC by 32.3%, selling 21,877 shares and now owning 45,804 shares valued at approximately $4,014,000.
• Despite the sell-off, other institutional investors, like Boston Partners, increased their holdings significantly, with Boston Partners upping its stake by 122.8%.
• Medtronic's stock currently has a consensus rating of "Moderate Buy", with an average target price of $98.19, reflecting a mixed sentiment among analysts.

Groupama Asset Managment lowered its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 32.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,804 shares of the medical technology company's stock after selling 21,877 shares during the period. Groupama Asset Managment's holdings in Medtronic were worth $4,014,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MDT. Van Lanschot Kempen Investment Management N.V. increased its position in Medtronic by 12.2% during the 1st quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,103,050 shares of the medical technology company's stock worth $188,980,000 after buying an additional 228,316 shares during the period. Legacy Financial Advisors Inc. lifted its stake in shares of Medtronic by 3.7% in the first quarter. Legacy Financial Advisors Inc. now owns 13,772 shares of the medical technology company's stock worth $1,238,000 after acquiring an additional 489 shares during the period. Colonial Trust Advisors lifted its stake in shares of Medtronic by 25.5% in the first quarter. Colonial Trust Advisors now owns 693 shares of the medical technology company's stock worth $62,000 after acquiring an additional 141 shares during the period. Financial Advisors Network Inc. acquired a new position in Medtronic in the first quarter valued at approximately $502,000. Finally, RWA Wealth Partners LLC increased its holdings in shares of Medtronic by 543.8% during the first quarter. RWA Wealth Partners LLC now owns 74,227 shares of the medical technology company's stock valued at $6,670,000 after acquiring an additional 62,697 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MDT. Leerink Partners began coverage on Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 price target for the company. Sanford C. Bernstein increased their price objective on Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a report on Wednesday. William Blair upgraded Medtronic to a "hold" rating in a research report on Friday, July 11th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. Finally, Truist Financial raised their target price on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.15.

Medtronic Trading Up 1.7%

Shares of NYSE:MDT traded up $1.5210 during trading on Friday, hitting $92.6210. The company had a trading volume of 4,870,626 shares, compared to its average volume of 7,618,189. The stock has a market cap of $118.72 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The company has a fifty day simple moving average of $89.73 and a two-hundred day simple moving average of $88.03. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the company earned $1.23 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Medtronic Company 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.