Edmond DE Rothschild Holding S.A. grew its stake in Medtronic PLC (NYSE:MDT) by 37.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,006 shares of the medical technology company’s stock after purchasing an additional 61,322 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Medtronic were worth $20,284,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Tributary Capital Management LLC acquired a new position in shares of Medtronic during the fourth quarter valued at about $27,000. Highwater Wealth Management LLC acquired a new position in shares of Medtronic during the fourth quarter valued at about $39,000. IMS Capital Management acquired a new position in shares of Medtronic during the third quarter valued at about $41,000. Contravisory Investment Management Inc. increased its holdings in shares of Medtronic by 220.0% during the fourth quarter. Contravisory Investment Management Inc. now owns 480 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 330 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in shares of Medtronic during the fourth quarter valued at about $46,000. Institutional investors own 81.50% of the company’s stock.
Shares of NYSE:MDT traded up $0.12 during midday trading on Monday, reaching $86.87. 5,815,800 shares of the company’s stock traded hands, compared to its average volume of 5,969,145. Medtronic PLC has a 1 year low of $78.29 and a 1 year high of $100.15. The firm has a market capitalization of $116.69 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 2.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.30%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 41.93%.
Several equities analysts have recently issued reports on the stock. Barclays restated a “buy” rating and set a $104.00 price objective on shares of Medtronic in a report on Wednesday, February 20th. Oppenheimer set a $104.00 price objective on shares of Medtronic and gave the company a “buy” rating in a report on Wednesday, February 20th. Citigroup upped their target price on Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, February 25th. JPMorgan Chase & Co. upgraded Medtronic from a “neutral” rating to an “overweight” rating and upped their target price for the company from $100.00 to $109.00 in a research report on Wednesday, December 19th. Finally, Northland Securities reiterated a “hold” rating and issued a $84.00 target price on shares of Medtronic in a research report on Monday, March 18th. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Medtronic has a consensus rating of “Buy” and an average price target of $103.39.
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Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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