Medtronic plc (NYSE:MDT) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its position in shares of Medtronic plc (NYSE:MDT) by 29.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 166,724 shares of the medical technology company’s stock after selling 71,113 shares during the period. Gotham Asset Management LLC’s holdings in Medtronic were worth $13,318,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Olstein Capital Management L.P. lifted its holdings in Medtronic by 8.0% during the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock worth $7,509,000 after buying an additional 7,000 shares during the last quarter. Czech National Bank lifted its stake in Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after purchasing an additional 16,786 shares during the last quarter. Empowered Funds LLC lifted its stake in Medtronic by 2.7% during the fourth quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company’s stock worth $8,453,000 after purchasing an additional 2,778 shares during the last quarter. Talbot Financial LLC boosted its holdings in Medtronic by 6.4% in the fourth quarter. Talbot Financial LLC now owns 133,453 shares of the medical technology company’s stock valued at $10,660,000 after purchasing an additional 8,031 shares in the last quarter. Finally, Caprock Group LLC increased its stake in Medtronic by 12.6% in the fourth quarter. Caprock Group LLC now owns 47,767 shares of the medical technology company’s stock valued at $3,849,000 after purchasing an additional 5,363 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of NYSE:MDT opened at $83.47 on Friday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a 50-day moving average price of $86.76 and a 200 day moving average price of $86.79. The company has a market cap of $107.05 billion, a P/E ratio of 25.37, a PEG ratio of 2.22 and a beta of 0.81. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Truist Financial reduced their target price on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday, April 11th. Robert W. Baird raised their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Medtronic has a consensus rating of “Hold” and a consensus price target of $96.14.

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.