Graham Capital Management L.P. Has $3.71 Million Stake in Medtronic PLC $MDT

Graham Capital Management L.P. decreased its position in shares of Medtronic PLC (NYSE:MDT) by 18.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,642 shares of the medical technology company’s stock after selling 8,600 shares during the period. Graham Capital Management L.P.’s holdings in Medtronic were worth $3,712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MDT. Artisan Partners Limited Partnership raised its position in shares of Medtronic by 2.6% during the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after buying an additional 31,314 shares during the last quarter. CSM Advisors LLC raised its position in shares of Medtronic by 13.2% during the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after buying an additional 33,167 shares during the last quarter. SageView Advisory Group LLC raised its position in shares of Medtronic by 164.8% during the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after buying an additional 15,062 shares during the last quarter. Madison Asset Management LLC raised its position in shares of Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after buying an additional 25,527 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Medtronic by 17.8% during the third quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company’s stock valued at $8,316,000 after buying an additional 13,177 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Leerink Partners cut their price objective on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Weiss Ratings lowered shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Daiwa Securities Group cut their price objective on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, BTIG Research raised shares of Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Wednesday, June 3rd. Seventeen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

Medtronic Stock Performance

NYSE MDT opened at $81.36 on Wednesday. The stock has a market cap 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 50-day simple moving average is $80.62 and its 200 day simple moving average is $90.95. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

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

Medtronic Increases Dividend

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