Medtronic plc (NYSE:MDT) Position Reduced by International Assets Investment Management LLC

International Assets Investment Management LLC reduced its position in Medtronic plc (NYSE:MDT) by 98.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,420 shares of the medical technology company’s stock after selling 1,283,995 shares during the period. International Assets Investment Management LLC’s holdings in Medtronic were worth $1,157,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Acadian Asset Management LLC boosted its position in shares of Medtronic by 1,240.9% in the second quarter. Acadian Asset Management LLC now owns 38,484 shares of the medical technology company’s stock worth $3,027,000 after buying an additional 35,614 shares during the period. Prudential PLC boosted its position in Medtronic by 17.6% during the 2nd quarter. Prudential PLC now owns 22,322 shares of the medical technology company’s stock worth $1,757,000 after acquiring an additional 3,335 shares during the period. Daiwa Securities Group Inc. grew its stake in Medtronic by 12.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 152,028 shares of the medical technology company’s stock valued at $11,966,000 after acquiring an additional 16,760 shares in the last quarter. Van Hulzen Asset Management LLC increased its holdings in shares of Medtronic by 4.0% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 7,945 shares of the medical technology company’s stock valued at $625,000 after purchasing an additional 308 shares during the period. Finally, Vaughan David Investments LLC IL lifted its position in shares of Medtronic by 2.9% in the second quarter. Vaughan David Investments LLC IL now owns 362,003 shares of the medical technology company’s stock worth $28,493,000 after purchasing an additional 10,079 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 3.6 %

Medtronic stock opened at $82.73 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The firm has a fifty day moving average price of $84.30 and a two-hundred day moving average price of $84.90. The firm has a market cap of $106.08 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. As a group, analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Analyst Ratings Changes

A number of brokerages recently commented on MDT. Citigroup boosted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Medtronic presently has an average rating of “Hold” and an average target price 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.