ExodusPoint Capital Management LP Has $37.33 Million Stake in Medtronic plc (NYSE:MDT)

ExodusPoint Capital Management LP cut its holdings in shares of Medtronic plc (NYSE:MDT) by 48.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 467,367 shares of the medical technology company’s stock after selling 441,181 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Medtronic were worth $37,333,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MDT. Mainstream Capital Management LLC acquired a new position in shares of Medtronic in the fourth quarter valued at $26,000. Rakuten Securities Inc. grew its position 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 during the last quarter. Stephens Consulting LLC lifted its holdings in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Medtronic during the 4th quarter worth approximately $36,000. Finally, Chelsea Counsel Co. acquired a new position in Medtronic in the 3rd quarter valued at $45,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Robert W. Baird raised their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. UBS Group boosted their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Truist Financial lowered their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.07.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Medtronic Trading Up 0.5 %

Shares of Medtronic stock opened at $88.97 on Thursday. The firm’s 50 day moving average is $91.04 and its 200 day moving average is $87.99. The firm has a market capitalization of $114.11 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.15%. Medtronic’s dividend payout ratio is presently 85.11%.

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.