Compagnie Lombard Odier SCmA Trims Position in Medtronic plc (NYSE:MDT)

Compagnie Lombard Odier SCmA decreased its holdings in Medtronic plc (NYSE:MDT - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,691 shares of the medical technology company's stock after selling 2,969 shares during the period. Compagnie Lombard Odier SCmA's holdings in Medtronic were worth $9,228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MDT. Brighton Jones LLC grew its stake in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Sovran Advisors LLC acquired a new position in shares of Medtronic in the fourth quarter worth $415,000. Portfolio Design Labs LLC grew its stake in shares of Medtronic by 67.4% in the fourth quarter. Portfolio Design Labs LLC now owns 4,422 shares of the medical technology company's stock worth $353,000 after acquiring an additional 1,781 shares in the last quarter. Leavell Investment Management Inc. grew its stake in shares of Medtronic by 4.4% in the fourth quarter. Leavell Investment Management Inc. now owns 5,331 shares of the medical technology company's stock worth $430,000 after acquiring an additional 226 shares in the last quarter. Finally, Signet Investment Advisory Group Inc. grew its stake in shares of Medtronic by 2.8% in the fourth quarter. Signet Investment Advisory Group Inc. now owns 21,977 shares of the medical technology company's stock worth $1,756,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

NYSE MDT traded down $1.30 during trading hours on Friday, hitting $87.19. The company had a trading volume of 6,008,318 shares, compared to its average volume of 6,886,057. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a market cap of $111.83 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The business has a 50 day moving average of $84.21 and a 200-day moving average of $86.26.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.04. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Medtronic's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic's dividend payout ratio is presently 78.45%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MDT. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Royal Bank of Canada lowered their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Finally, UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.00.

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.