Medtronic PLC (NYSE:MDT) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich trimmed its position in Medtronic PLC (NYSE:MDT - Free Report) by 0.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 886,197 shares of the medical technology company's stock after selling 7,889 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.07% of Medtronic worth $85,449,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MDT. Burkett Financial Services LLC increased its stake in shares of Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares during the last quarter. Wood Tarver Financial Group LLC bought a new stake in Medtronic during the fourth quarter valued at about $27,000. Columbia River Financial Group LLC bought a new stake in Medtronic during the first quarter valued at about $28,000. Optiver Holding B.V. bought a new stake in Medtronic during the fourth quarter valued at about $31,000. Finally, Hughes Financial Services LLC acquired a new stake in shares of Medtronic during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Citigroup raised their price objective on shares of Medtronic from $98.00 to $99.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Finally, Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $98.19.

Medtronic Price Performance

NYSE:MDT traded up $0.83 during mid-day trading on Tuesday, reaching $90.53. The stock had a trading volume of 890,863 shares, compared to its average volume of 6,988,268. The stock has a 50-day simple moving average of $86.41 and a two-hundred day simple moving average of $87.23. The stock has a market capitalization of $116.11 billion, a PE ratio of 25.02, a P/E/G ratio of 2.33 and a beta of 0.80. 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 PLC has a 12 month low of $78.32 and a 12 month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The business's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $1.46 earnings per share. On average, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a $0.71 dividend. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.14%. Medtronic's payout ratio is presently 78.45%.

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.

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