DnB Asset Management AS Has $77.43 Million Stake in Medtronic plc (NYSE:MDT)

DnB Asset Management AS trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 14.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 969,285 shares of the medical technology company’s stock after selling 167,654 shares during the period. DnB Asset Management AS owned 0.08% of Medtronic worth $77,426,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in Medtronic in the 4th quarter valued at about $26,000. Stephens Consulting LLC grew its stake in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 294 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in Medtronic in the fourth quarter worth about $36,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Medtronic in the 4th quarter valued at $40,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MDT shares. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. UBS Group lifted their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus target price of $96.07.

Medtronic Trading Up 0.9 %

Shares of Medtronic stock opened at $89.00 on Friday. The company has a market capitalization of $114.14 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 2.22 and a beta of 0.80. The business has a fifty day simple moving average of $91.00 and a two-hundred day simple moving average of $88.05. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

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.