Rothschild Capital Partners LLC Trims Stock Position in Medtronic plc (NYSE:MDT)

Rothschild Capital Partners LLC lowered its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 90.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,786 shares of the medical technology company's stock after selling 33,933 shares during the period. Rothschild Capital Partners LLC's holdings in Medtronic were worth $302,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Medtronic in the fourth quarter valued at about $1,163,580,000. Raymond James Financial Inc. acquired a new stake in shares of Medtronic in the fourth quarter valued at approximately $852,732,000. Beutel Goodman & Co Ltd. purchased a new position in Medtronic during the fourth quarter worth approximately $377,169,000. Van ECK Associates Corp boosted its stake in Medtronic by 2,043.4% during the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company's stock worth $207,540,000 after buying an additional 2,476,935 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Medtronic by 17.8% in the 4th quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock valued at $1,233,769,000 after buying an additional 2,333,600 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Down 0.6 %

NYSE MDT traded down $0.52 during trading hours on Wednesday, hitting $84.08. 1,387,611 shares of the company were exchanged, compared to its average volume of 6,649,442. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm has a market cap of $107.84 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 2.22 and a beta of 0.79. The company has a 50 day moving average of $88.01 and a two-hundred day moving average of $87.19. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Equities research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent research reports. Royal Bank of Canada reissued an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. 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. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, UBS Group upped their price target on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $96.14.

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.