Lombard Odier Asset Management Europe Ltd Sells 5,978 Shares of Medtronic PLC $MDT

Lombard Odier Asset Management Europe Ltd trimmed its position in Medtronic PLC (NYSE:MDT) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,443 shares of the medical technology company’s stock after selling 5,978 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Medtronic were worth $12,603,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Curbstone Financial Management Corp increased its position in Medtronic by 1.8% during the 4th quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after buying an additional 100 shares in the last quarter. New England Capital Financial Advisors LLC increased its holdings in Medtronic by 7.8% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock worth $135,000 after buying an additional 101 shares in the last quarter. Ipsen Advisor Group LLC boosted its holdings in Medtronic by 1.7% in the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock worth $572,000 after purchasing an additional 101 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Medtronic by 0.3% during the 4th quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock valued at $3,120,000 after buying an additional 101 shares during the last quarter. Finally, Rossby Financial LCC increased its position in Medtronic by 5.1% during the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock valued at $211,000 after acquiring an additional 107 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by insiders.

Medtronic Trading Up 0.3%

MDT stock opened at $85.64 on Monday. The company has a market capitalization of $109.62 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.29 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The business has a 50 day simple moving average of $80.94 and a two-hundred day simple moving average of $87.00.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Research analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were issued a $0.72 dividend. The ex-dividend date was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is presently 77.21%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Robert W. Baird lowered their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. TD Cowen cut their price target on Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 10th. The Goldman Sachs Group reduced their price target on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. UBS Group upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $100.00 in a research note on Tuesday, July 28th. Finally, Citigroup dropped their price objective on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $98.83.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).