65,300 Shares in Medtronic PLC $MDT Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in Medtronic PLC (NYSE:MDT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 65,300 shares of the medical technology company’s stock, valued at approximately $5,658,000.

Several other large investors have also recently modified their holdings of MDT. Artisan Partners Limited Partnership increased 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 worth $117,579,000 after buying an additional 31,314 shares during the period. CSM Advisors LLC lifted its holdings in Medtronic by 13.2% in 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 period. SageView Advisory Group LLC boosted 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 during the last quarter. Madison Asset Management LLC grew its holdings in Medtronic by 15.0% during the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after acquiring an additional 25,527 shares during the period. Finally, Ticino Wealth acquired a new stake in Medtronic during the 4th quarter worth about $2,049,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $80.94 on Friday. The firm has a market cap of $103.60 billion, a PE ratio of 21.70, a PEG ratio of 2.16 and a beta of 0.58. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.87. The stock’s fifty day moving average price is $79.39 and its two-hundred day moving average price is $89.74. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

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

Wall Street Analyst Weigh In

MDT has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $101.00 target price on shares of Medtronic in a research note on Wednesday, June 17th. Citigroup cut their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Barclays lifted their price objective on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Sanford C. Bernstein cut their target price on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Seventeen investment 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 stock has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business’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 transaction, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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).