MV Capital Management Inc. Makes New $1.68 Million Investment in Medtronic PLC $MDT

MV Capital Management Inc. acquired a new stake in shares of Medtronic PLC (NYSE:MDT) in the fourth quarter, Holdings Channel reports. The fund acquired 17,486 shares of the medical technology company’s stock, valued at approximately $1,680,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Artisan Partners Limited Partnership grew its stake in shares of Medtronic by 2.6% in the 3rd 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 in the last quarter. CSM Advisors LLC raised its position in 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 acquiring an additional 33,167 shares in the last quarter. SageView Advisory Group LLC raised its position in 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 acquiring an additional 15,062 shares in the last quarter. Madison Asset Management LLC lifted its stake in Medtronic by 15.0% in 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 acquiring an additional 25,527 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in Medtronic by 17.8% in 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 acquiring an additional 13,177 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MDT. Truist Financial dropped their price target on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. UBS Group decreased their price objective on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Stifel Nicolaus set a $80.00 target price on shares of Medtronic in a research report on Wednesday, June 3rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $118.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $99.00.

Medtronic Price Performance

Shares of Medtronic stock opened at $79.37 on Friday. The firm has a fifty day simple moving average of $80.32 and a 200-day simple moving average of $90.58. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The stock has a market capitalization of $101.90 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.10 and a beta of 0.58.

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

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. Medtronic’s dividend payout ratio is currently 76.14%.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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).