TMB Capital Partners LLC Takes $1.69 Million Position in Medtronic PLC $MDT

TMB Capital Partners LLC bought a new stake in shares of Medtronic PLC (NYSE:MDT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 17,588 shares of the medical technology company’s stock, valued at approximately $1,690,000.

A number of other large investors also recently added to or reduced their stakes in MDT. Michels Family Financial LLC lifted its stake in Medtronic by 3.1% in the fourth quarter. Michels Family Financial LLC now owns 7,339 shares of the medical technology company’s stock worth $705,000 after purchasing an additional 222 shares during the last quarter. Harbour Wealth Management Group Inc. bought a new position in shares of Medtronic during the fourth quarter valued at about $489,000. Axxcess Wealth Management LLC grew its stake in shares of Medtronic by 10.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 15,132 shares of the medical technology company’s stock valued at $1,454,000 after buying an additional 1,370 shares during the last quarter. Birchwood Financial Partners Inc. purchased a new position in shares of Medtronic in the fourth quarter worth about $204,000. Finally, Corient Private Wealth LLC lifted its stake in shares of Medtronic by 33.3% in the 4th quarter. Corient Private Wealth LLC now owns 751,932 shares of the medical technology company’s stock valued at $72,231,000 after acquiring an additional 187,902 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BTIG Research upgraded Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Wednesday, June 3rd. Rothschild & Co Redburn dropped their price objective on Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Piper Sandler restated a “neutral” rating and issued a $85.00 target price on shares of Medtronic in a report on Tuesday. Mizuho decreased their target price on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Finally, Daiwa Securities Group lowered their price target on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a report on Friday, February 27th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and an average price target of $99.00.

Medtronic Price Performance

Shares of MDT stock opened at $79.37 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The firm has a market cap of $101.90 billion, a P/E ratio of 21.28, a P/E/G ratio of 2.10 and a beta of 0.58. The business’s 50 day moving average price is $80.32 and its 200-day moving average price is $90.58.

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

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.6%. Medtronic’s dividend payout ratio (DPR) is currently 76.14%.

Medtronic 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).