Pier 88 Investment Partners LLC Acquires New Shares in Medtronic PLC $MDT

Pier 88 Investment Partners LLC acquired a new stake in shares of Medtronic PLC (NYSE:MDT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 30,400 shares of the medical technology company’s stock, valued at approximately $2,920,000.

Several other hedge funds also recently modified their holdings of the company. Corundum Trust Company INC bought a new position in Medtronic during the 3rd quarter worth $27,000. Lodestone Wealth Management LLC bought a new position in Medtronic during the 4th quarter worth $27,000. Anfield Capital Management LLC raised its position in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in Medtronic during the 3rd quarter worth $29,000. Finally, Board of the Pension Protection Fund bought a new position in Medtronic during the 4th quarter worth $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT stock opened at $74.56 on Tuesday. The stock has a 50-day moving average price of $86.40 and a 200-day moving average price of $94.14. Medtronic PLC has a 1-year low of $74.40 and a 1-year high of $106.33. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The firm has a market cap of $95.73 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.81 and a beta of 0.62.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping 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 analyst estimates of $8.89 billion. During the same period last year, the company posted $1.38 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities research analysts expect that Medtronic PLC will post 5.57 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.8%. Medtronic’s dividend payout ratio (DPR) is 79.11%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MDT. Daiwa Securities Group lowered their target price on Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Barclays raised their target price on Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Citigroup lowered their target price on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Stifel Nicolaus lowered their target price on Medtronic from $105.00 to $95.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Finally, UBS Group lowered their target price on Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.80.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the transaction, the executive vice president directly owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

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).