Compagnie Lombard Odier SCmA Buys 9,750 Shares of Medtronic plc (NYSE:MDT)

Compagnie Lombard Odier SCmA grew its stake in Medtronic plc (NYSE:MDT) by 13.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,746 shares of the medical technology company’s stock after acquiring an additional 9,750 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Medtronic were worth $7,270,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MDT. M&G Plc bought a new position in shares of Medtronic in the 1st quarter valued at about $259,160,000. Capital Research Global Investors lifted its stake in Medtronic by 7.1% in the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Medtronic by 1,195.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after purchasing an additional 1,695,800 shares during the last quarter. Troy Asset Management Ltd acquired a new stake in Medtronic in the 2nd quarter valued at about $85,440,000. Finally, 1832 Asset Management L.P. lifted its stake in Medtronic by 26.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock valued at $386,908,000 after purchasing an additional 1,041,863 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Oppenheimer raised their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Barclays raised their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird raised their target price on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, Truist Financial raised their price objective on shares of Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.14.

Medtronic Price Performance

NYSE:MDT traded up $0.51 during mid-day trading on Friday, reaching $89.36. The stock had a trading volume of 4,482,912 shares, compared to its average volume of 6,290,060. The stock has a 50-day simple moving average of $87.54 and a two-hundred day simple moving average of $83.46. The stock has a market capitalization of $114.58 billion, a PE ratio of 32.49, a P/E/G ratio of 2.53 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.49.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. On average, equities analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.13%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

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.