BNP PARIBAS ASSET MANAGEMENT Holding SA holds $62.25M position in Medtronic plc (NYSE:MDT)

BNP PARIBAS ASSET MANAGEMENT Holding SA boosted its stake in Medtronic plc (NYSE:MDT – Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 790,809 shares of the medical technology company’s stock after buying an additional 9,548 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding SA’s holdings in Medtronic were worth $62,245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Boyar Asset Management Inc. raised its position in shares of Medtronic by 2.6% during the 4th quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock valued at $383,000 after acquiring an additional 120 shares during the period. Hall Laurie J Trustee boosted its holdings in shares of Medtronic by 0.3% in the 1st quarter. Hall Laurie J Trustee now owns 44,015 shares of the medical technology company’s stock worth $3,835,000 after acquiring an additional 125 shares during the period. Quent Capital LLC raised its position in shares of Medtronic by 8.0% in the first quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after purchasing an additional 125 shares in the last quarter. Abbrea Capital LLC boosted its stake in Medtronic by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock worth $446,000 after purchasing an additional 125 shares during the period. Finally, Waterway Wealth Management LLC boosted its holdings in Medtronic by 4.8% during the 2nd quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock worth $217,000 after bought an additional 126 shares in the last quarter. Institutional investors own 82.06% of the company’s shares.

Insider trading at Medtronic

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the transaction, the chief executive officer now owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders hold 0.30% of the company’s stock.

Analyst upgrades and downgrades

Several analysts recently weighed in on the stock. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Truist Financial upped their target price on Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their target price on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the company from $76.00 to $90.00 in a research note on Thursday. August 15. Finally, Stifel Nicolaus raised their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $92.92.

Get the latest stock report on Medtronic

Medtronic stock down 0.4%

Shares of NYSE MDT opened at $88.58 on Friday. The firm has a fifty day simple moving average of $81.18 and a two hundred day simple moving average of $82.41. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $90.13. The company has a current ratio of 2.03, a quick ratio of 1.55, and a debt-to-equity ratio of 0.47. The firm has a market cap of $113.58 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82.

Medtronic (NYSE:MDT – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same period in the previous year, the firm posted EPS of $1.20. The company’s revenue increased by 3.4% year-on-year. equities analysts expect that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.70 per share. This represents an annualized dividend of $2.80 and a yield of 3.16%. The ex-dividend date is Friday, September 27. Medtronic’s dividend payout ratio is currently 101.82%.

Medtronic Company Profile

(Free report)

Medtronic plc develops, manufactures and sells device-based medical therapies to healthcare systems, physicians, clinicians and patients worldwide. Its cardiovascular portfolio segment offers implantable pacemakers, cardioverter defibrillators and cardiac resynchronization therapy devices; cardiac ablation products; implantable cardiac monitoring systems; TYRX products; and remote monitoring and patient-centric software.

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