Medtronic plc (NYSE:MDT) Shares Sold by Thematics Asset Management

Thematics Asset Management lessened its position in Medtronic plc (NYSE:MDT - Free Report) by 28.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,075 shares of the medical technology company's stock after selling 92,361 shares during the period. Thematics Asset Management's holdings in Medtronic were worth $18,778,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Medtronic in the fourth quarter valued at $1,163,580,000. Raymond James Financial Inc. acquired a new stake in shares of Medtronic in the fourth quarter worth approximately $852,732,000. Beutel Goodman & Co Ltd. purchased a new stake in Medtronic in the fourth quarter valued at approximately $377,169,000. Van ECK Associates Corp increased its position 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 purchasing an additional 2,476,935 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Medtronic by 17.8% during the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock worth $1,233,769,000 after purchasing an additional 2,333,600 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

MDT traded down $0.25 during trading hours on Friday, hitting $84.05. The company's stock had a trading volume of 3,822,764 shares, compared to its average volume of 7,682,537. The company has a 50-day simple moving average of $88.18 and a 200 day simple moving average of $87.29. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $107.79 billion, a PE ratio of 25.55, a PEG ratio of 2.22 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.

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

Medtronic Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial dropped their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Medtronic presently has an average rating of "Hold" and a consensus target price 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.