Robeco Institutional Asset Management B.V. Sells 124,479 Shares of Medtronic PLC (NYSE:MDT)

Robeco Institutional Asset Management B.V. lowered its position in Medtronic PLC (NYSE:MDT - Free Report) by 14.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 735,051 shares of the medical technology company's stock after selling 124,479 shares during the period. Robeco Institutional Asset Management B.V. owned 0.06% of Medtronic worth $66,052,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Brighton Jones LLC lifted its position in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in Medtronic by 4.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 6,296 shares of the medical technology company's stock valued at $507,000 after purchasing an additional 272 shares during the last quarter. Simmons Bank grew its position in Medtronic by 6.7% during the fourth quarter. Simmons Bank now owns 8,810 shares of the medical technology company's stock worth $704,000 after buying an additional 550 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $120,000. Finally, Robeco Schweiz AG lifted its holdings in shares of Medtronic by 40.3% during the 4th quarter. Robeco Schweiz AG now owns 145,807 shares of the medical technology company's stock worth $11,647,000 after acquiring an additional 41,902 shares during the period. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Up 0.5%

MDT stock opened at $86.41 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The stock has a market capitalization of $110.83 billion, a P/E ratio of 23.87, a P/E/G ratio of 2.32 and a beta of 0.79. Medtronic PLC has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The business has a 50-day moving average of $84.74 and a 200-day moving average of $86.31.

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

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.71 dividend. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 3.29%. The ex-dividend date is Friday, June 27th. Medtronic's payout ratio is presently 77.35%.

Analysts Set New Price Targets

MDT has been the topic of a number of recent research reports. Truist Financial decreased 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. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Royal Bank Of Canada dropped their price objective on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Finally, Robert W. Baird reduced their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.87.

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.

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