Compagnie Lombard Odier SCmA Boosts Holdings in Medtronic plc (NYSE:MDT)

Compagnie Lombard Odier SCmA lifted its stake in Medtronic plc (NYSE:MDT) by 30.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,660 shares of the medical technology company’s stock after purchasing an additional 24,914 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Medtronic were worth $8,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic in the 3rd quarter worth about $30,000. Finally, Stephens Consulting LLC raised its position in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.0 %

Medtronic stock opened at $92.27 on Friday. The business has a 50-day simple moving average of $85.16 and a two-hundred day simple moving average of $86.68. The company has a market cap of $118.32 billion, a P/E ratio of 28.22, a P/E/G ratio of 2.57 and a beta of 0.84. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. Analysts predict that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MDT. Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Wells Fargo & Company decreased their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday. Finally, Robert W. Baird decreased their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $95.00.

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.