First Eagle Investment Management LLC Acquires 28,910 Shares of Medtronic plc (NYSE:MDT)

First Eagle Investment Management LLC increased its holdings in Medtronic plc (NYSE:MDT) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,792,200 shares of the medical technology company’s stock after acquiring an additional 28,910 shares during the period. Medtronic comprises approximately 1.7% of First Eagle Investment Management LLC’s portfolio, making the stock its 21st biggest holding. First Eagle Investment Management LLC owned about 0.76% of Medtronic worth $782,201,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Diamond Hill Capital Management Inc. grew its holdings in shares of Medtronic by 14.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 4,191,837 shares of the medical technology company’s stock valued at $334,844,000 after acquiring an additional 525,877 shares in the last quarter. Aviso Financial Inc. lifted its stake in Medtronic by 13.6% in the fourth quarter. Aviso Financial Inc. now owns 25,299 shares of the medical technology company’s stock valued at $2,021,000 after purchasing an additional 3,038 shares during the last quarter. LBP AM SA lifted its stake in Medtronic by 18.7% in the fourth quarter. LBP AM SA now owns 369,120 shares of the medical technology company’s stock valued at $29,485,000 after purchasing an additional 58,173 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in Medtronic in the fourth quarter valued at approximately $29,927,000. Finally, Impact Capital Partners LLC purchased a new position in Medtronic in the fourth quarter valued at approximately $273,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MDT shares. Sanford C. Bernstein upped their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. 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. Barclays upped their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. One equities 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $96.07.

Medtronic Trading Up 0.9 %

Shares of MDT stock opened at $92.30 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a market capitalization of $118.38 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The business’s fifty day moving average is $89.36 and its 200 day moving average is $87.94.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. On average, equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 dividend on an annualized basis and a dividend yield of 3.03%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on 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 of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Medtronic 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.