Oddo BHF Asset Management Sas Purchases New Position in Medtronic plc (NYSE:MDT)

Oddo BHF Asset Management Sas acquired a new position in shares of Medtronic plc (NYSE:MDT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,605 shares of the medical technology company’s stock, valued at approximately $415,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the third quarter valued at $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic in the 3rd quarter worth approximately $30,000. Finally, Chelsea Counsel Co. purchased a new stake in shares of Medtronic in the 3rd quarter worth approximately $45,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MDT. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Truist Financial boosted their price target on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Evercore ISI raised their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company reduced their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Robert W. Baird lowered their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $95.27.

Medtronic Price Performance

NYSE MDT opened at $82.48 on Friday. The company has a market cap of $105.76 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 2.35 and a beta of 0.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The stock’s fifty day moving average price is $87.66 and its 200 day moving average price is $85.01. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.39%. The ex-dividend date is Friday, December 27th. Medtronic’s payout ratio is 85.63%.

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.