Banque Cantonale Vaudoise Has $4.87 Million Stock Holdings in Medtronic PLC $MDT

Banque Cantonale Vaudoise boosted its holdings in shares of Medtronic PLC (NYSE:MDT) by 32.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 50,649 shares of the medical technology company’s stock after buying an additional 12,402 shares during the period. Banque Cantonale Vaudoise’s holdings in Medtronic were worth $4,865,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MDT. Barclays PLC raised its position in Medtronic by 104.6% during the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after buying an additional 3,492,192 shares during the period. Schroder Investment Management Group raised its position in Medtronic by 78.3% during the third quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after buying an additional 3,307,211 shares during the period. Guinness Asset Management LTD acquired a new position in Medtronic in the 3rd quarter worth about $275,556,000. Wellington Management Group LLP increased its position in Medtronic by 35.3% in the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after purchasing an additional 2,658,981 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Medtronic by 2,297.7% in the 4th quarter. SG Americas Securities LLC now owns 2,510,712 shares of the medical technology company’s stock worth $241,179,000 after purchasing an additional 2,406,000 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s long-running dividend growth story is in focus again, with investors viewing the company as a stable income name as its 47-year streak of dividend increases is expected to continue. Medtronic dividend preview: 47-year growth streak set to continue
• Positive Sentiment: Medtronic is also benefiting from the broader “silver economy” investment theme, as aging populations continue to drive demand for medical devices and healthcare solutions. Silver Economy Investing: Why the Healthcare Giants Are in Focus
• Neutral Sentiment: The company announced Kweli Thompson will take over leadership of its neuroscience portfolio, replacing Brett Wall as part of a planned transition. The move keeps attention on execution in a major segment, but it is not a major financial update by itself. Medtronic Neuroscience Appointment Puts Focus On Execution And Growth Risks
• Neutral Sentiment: Medtronic also named new leaders in its neuroscience portfolio in a separate announcement, reinforcing that the change is already being absorbed by the market. Medtronic, BD name new leaders
• Neutral Sentiment: Recent trading commentary noted MDT had been advancing while the broader market declined, suggesting relative strength rather than a company-specific catalyst. Medtronic (MDT) Advances While Market Declines: Some Information for Investors

Medtronic Stock Performance

MDT opened at $78.51 on Wednesday. The company has a market cap of $100.80 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 1.84 and a beta of 0.62. The stock has a 50-day moving average of $84.20 and a 200-day moving average of $93.43. Medtronic PLC has a 52-week low of $74.40 and a 52-week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the prior year, the company earned $1.38 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that Medtronic PLC will post 5.57 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.6%. Medtronic’s dividend payout ratio is presently 79.11%.

Analysts Set New Price Targets

Several research analysts have weighed in on MDT shares. Wells Fargo & Company started coverage on Medtronic in a research report on Friday, January 30th. They issued an “overweight” rating and a $114.00 target price on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $95.00 target price on shares of Medtronic in a research report on Thursday, April 23rd. Leerink Partners reaffirmed an “outperform” rating and issued a $119.00 target price on shares of Medtronic in a research report on Tuesday, March 10th. CICC Research initiated coverage on Medtronic in a research report on Friday, January 30th. They issued an “outperform” rating on the stock. Finally, Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Fifteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus price target of $107.80.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the sale, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by insiders.

About Medtronic

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).