Medtronic plc (NYSE:MDT) Holdings Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in shares of Medtronic plc (NYSE:MDT) by 3.3% during the fourth quarter, Holdings Channel reports. The firm owned 60,400 shares of the medical technology company’s stock after purchasing an additional 1,926 shares during the period. Assenagon Asset Management S.A.’s holdings in Medtronic were worth $4,825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MDT. Fortitude Family Office LLC bought a new position in Medtronic in the 3rd quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the 3rd quarter valued at about $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the third quarter worth about $30,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Medtronic during the third quarter valued at $45,000. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Citigroup increased their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Evercore ISI increased their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Performance

NYSE MDT opened at $88.23 on Tuesday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a market cap of $113.13 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 2.28 and a beta of 0.83. The company has a fifty day moving average price of $83.64 and a 200-day moving average price of $85.21.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.17%. Medtronic’s dividend payout ratio is presently 85.63%.

Medtronic Company 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.