Swiss National Bank Purchases 247,400 Shares of Medtronic PLC $MDT

Swiss National Bank increased its position in Medtronic PLC (NYSE:MDT) by 7.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,762,366 shares of the medical technology company’s stock after purchasing an additional 247,400 shares during the period. Swiss National Bank’s holdings in Medtronic were worth $326,009,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Monetary Solutions Ltd acquired a new stake in shares of Medtronic in the 4th quarter worth about $27,000. Lodestone Wealth Management LLC bought a new stake in Medtronic during the fourth quarter worth $27,000. Anfield Capital Management LLC lifted its stake in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Medtronic in the 4th quarter worth $29,000. Finally, GoalVest Advisory LLC bought a new stake in Medtronic in the 4th quarter worth about $29,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $83.20 on Friday. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The stock has a fifty day moving average of $79.50 and a 200 day moving average of $87.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The firm has a market capitalization of $106.50 billion, a price-to-earnings ratio of 22.30, a P/E/G ratio of 2.23 and a beta of 0.56.

Medtronic (NYSE:MDT) last announced 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 the consensus estimate of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. Medtronic’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, research analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a dividend of $0.72 per share. The ex-dividend date was Friday, June 26th. This is a positive change 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 dividend payout ratio (DPR) is 77.21%.

Insider Transactions at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the company’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 completion of the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MDT shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $88.00 target price on shares of Medtronic in a report on Thursday, June 4th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird dropped their price objective on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Citigroup lowered their target price on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Finally, UBS Group dropped their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $98.21.

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).