Flossbach Von Storch SE Has $165.43 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Flossbach Von Storch SE cut its holdings in Medtronic plc (NYSE:MDT) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,071,032 shares of the medical technology company’s stock after selling 92,271 shares during the quarter. Flossbach Von Storch SE’s holdings in Medtronic were worth $165,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Morningstar Investment Management LLC increased its position in Medtronic by 2.9% in the fourth quarter. Morningstar Investment Management LLC now owns 18,596 shares of the medical technology company’s stock worth $1,485,000 after purchasing an additional 528 shares during the period. Advyzon Investment Management LLC acquired a new stake in Medtronic in the fourth quarter worth about $359,000. Handelsbanken Fonder AB increased its position in Medtronic by 6.4% in the fourth quarter. Handelsbanken Fonder AB now owns 605,594 shares of the medical technology company’s stock worth $48,375,000 after purchasing an additional 36,609 shares during the period. Ieq Capital LLC increased its position in Medtronic by 61.1% in the fourth quarter. Ieq Capital LLC now owns 100,586 shares of the medical technology company’s stock worth $8,035,000 after purchasing an additional 38,131 shares during the period. Finally, Keene & Associates Inc. increased its position in Medtronic by 1.8% in the fourth quarter. Keene & Associates Inc. now owns 39,649 shares of the medical technology company’s stock worth $3,167,000 after purchasing an additional 708 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of research reports. Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Truist Financial lowered their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Robert W. Baird boosted their target price on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday. One 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.20.

Medtronic Stock Up 1.1 %

NYSE:MDT opened at $87.05 on Thursday. The firm has a market capitalization of $111.62 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.44 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The stock’s 50 day moving average price is $85.82 and its two-hundred day moving average price is $87.02. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

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. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.11% and a net margin of 12.83%. Equities research analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is 85.11%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s 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 directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

About Medtronic

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.