Vontobel Holding Ltd. Decreases Stake in Medtronic plc (NYSE:MDT)

Vontobel Holding Ltd. lowered its position in shares of Medtronic plc (NYSE:MDT) by 6.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 472,126 shares of the medical technology company’s stock after selling 34,550 shares during the quarter. Vontobel Holding Ltd.’s holdings in Medtronic were worth $42,506,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MDT. SageView Advisory Group LLC grew its holdings in shares of Medtronic by 59.3% during the 4th quarter. SageView Advisory Group LLC now owns 7,306 shares of the medical technology company’s stock worth $635,000 after purchasing an additional 2,721 shares during the period. HighPoint Advisor Group LLC purchased a new stake in shares of Medtronic during the 4th quarter worth about $1,040,000. Park National Corp OH grew its holdings in shares of Medtronic by 6.4% during the 1st quarter. Park National Corp OH now owns 3,617 shares of the medical technology company’s stock worth $315,000 after purchasing an additional 216 shares during the period. Moody National Bank Trust Division boosted its holdings in Medtronic by 6.3% in the 1st quarter. Moody National Bank Trust Division now owns 12,050 shares of the medical technology company’s stock worth $1,050,000 after acquiring an additional 715 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in Medtronic by 754.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 58,993 shares of the medical technology company’s stock worth $5,141,000 after acquiring an additional 52,092 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.2 %

Shares of MDT traded up $0.15 during trading on Wednesday, reaching $89.99. The company’s stock had a trading volume of 942,439 shares, compared to its average volume of 6,240,537. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The company has a market cap of $115.39 billion, a price-to-earnings ratio of 32.67, a P/E/G ratio of 2.53 and a beta of 0.84. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The company has a fifty day moving average of $87.92 and a two-hundred day moving average of $83.47.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.20 EPS. On average, sell-side analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is currently 101.82%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Barclays upped their price target on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer upped their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Piper Sandler upped their price target on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company upped their price target on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One equities 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $95.36.

Medtronic 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.