Medtronic PLC $MDT is Lazard Freres Gestion S.A.S.'s 10th Largest Position

Key Points

• Lazard Freres Gestion S.A.S. increased its Medtronic stake by 11.4% in the fourth quarter, making MDT its 10th-largest holding and about 3% of its portfolio.
• Medtronic reported better-than-expected quarterly results, posting $1.36 EPS and $9.02 billion in revenue, while revenue rose 5.8% year over year.
• The company continues to highlight its income appeal, with a 47-year streak of dividend increases and a recent quarterly payout of $0.71 per share, yielding about 3.6%.

Lazard Freres Gestion S.A.S. increased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 11.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,705,936 shares of the medical technology company's stock after purchasing an additional 175,159 shares during the quarter. Medtronic makes up approximately 3.0% of Lazard Freres Gestion S.A.S.'s investment portfolio, making the stock its 10th largest position. Lazard Freres Gestion S.A.S. owned about 0.13% of Medtronic worth $163,872,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Barclays PLC boosted its stake in Medtronic by 104.6% during the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company's stock worth $650,604,000 after buying an additional 3,492,192 shares during the last quarter. Schroder Investment Management Group boosted its stake in Medtronic by 78.3% during the third quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company's stock worth $717,143,000 after buying an additional 3,307,211 shares during the last quarter. Guinness Asset Management LTD acquired a new position in Medtronic during the third quarter worth $275,556,000. Wellington Management Group LLP boosted its stake in Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company's stock worth $970,456,000 after buying an additional 2,658,981 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Medtronic by 2,297.7% during the fourth quarter. SG Americas Securities LLC now owns 2,510,712 shares of the medical technology company's stock worth $241,179,000 after buying an additional 2,406,000 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s long-running dividend growth story is in focus again, with investors viewing the company as a stable income name as its 47-year streak of dividend increases is expected to continue. Medtronic dividend preview: 47-year growth streak set to continue
• Positive Sentiment: Medtronic is also benefiting from the broader “silver economy” investment theme, as aging populations continue to drive demand for medical devices and healthcare solutions. Silver Economy Investing: Why the Healthcare Giants Are in Focus
• Neutral Sentiment: The company announced Kweli Thompson will take over leadership of its neuroscience portfolio, replacing Brett Wall as part of a planned transition. The move keeps attention on execution in a major segment, but it is not a major financial update by itself. Medtronic Neuroscience Appointment Puts Focus On Execution And Growth Risks
• Neutral Sentiment: Medtronic also named new leaders in its neuroscience portfolio in a separate announcement, reinforcing that the change is already being absorbed by the market. Medtronic, BD name new leaders
• Neutral Sentiment: Recent trading commentary noted MDT had been advancing while the broader market declined, suggesting relative strength rather than a company-specific catalyst. Medtronic (MDT) Advances While Market Declines: Some Information for Investors

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the company's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president owned 32,768 shares of the company's stock, valued at $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Performance

Shares of Medtronic stock opened at $78.51 on Wednesday. Medtronic PLC has a 52 week low of $74.40 and a 52 week high of $106.33. The business's fifty day simple moving average is $84.20 and its 200-day simple moving average is $93.43. The firm has a market cap of $100.80 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 1.84 and a beta of 0.62. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The business had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the prior year, the company posted $1.38 EPS. The company's quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts forecast that Medtronic PLC will post 5.57 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic's dividend payout ratio is 79.11%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company assumed coverage on Medtronic in a research note on Friday, January 30th. They set an "overweight" rating and a $114.00 price objective on the stock. UBS Group lowered their price objective on Medtronic from $104.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 22nd. Stifel Nicolaus lowered their price objective on Medtronic from $105.00 to $95.00 and set a "hold" rating on the stock in a research note on Monday, April 6th. Argus lowered their price objective on Medtronic from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Finally, JPMorgan Chase & Co. lowered their price objective on Medtronic from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 18th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $107.80.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic's offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).

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