Lombard Odier Asset Management Europe Ltd Reduces Holdings in Medtronic PLC $MDT

Lombard Odier Asset Management Europe Ltd reduced its stake in Medtronic PLC (NYSE:MDT) by 90.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 151,421 shares of the medical technology company’s stock after selling 1,376,079 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Medtronic were worth $14,546,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Lodestone Wealth Management LLC acquired a new position in shares of Medtronic in the 4th quarter worth approximately $27,000. Anfield Capital Management LLC raised its stake in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic in the fourth quarter valued at $29,000. GoalVest Advisory LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

MDT has been the topic of a number of analyst reports. Mizuho reduced their price objective on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. Needham & Company LLC reduced their price objective on shares of Medtronic from $120.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Robert W. Baird reduced their price objective on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Leerink Partners reduced their price objective on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Finally, Sanford C. Bernstein dropped their target price on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.00.

Medtronic Trading Up 1.2%

Shares of Medtronic stock opened at $81.36 on Wednesday. Medtronic PLC has a 1 year low of $73.31 and a 1 year 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. The company has a market capitalization of $104.45 billion, a P/E ratio of 21.81, a PEG ratio of 2.16 and a beta of 0.58. The company’s fifty day moving average is $80.62 and its two-hundred day moving average is $90.95.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period last year, the firm posted $1.62 EPS. Medtronic’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is 76.14%.

Medtronic Company Profile

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).