Cetera Investment Advisers Acquires 47,721 Shares of Medtronic PLC $MDT

Cetera Investment Advisers raised its stake in Medtronic PLC (NYSE:MDT) by 7.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 696,767 shares of the medical technology company’s stock after acquiring an additional 47,721 shares during the period. Cetera Investment Advisers’ holdings in Medtronic were worth $60,375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MDT. Madison Asset Management LLC raised 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 buying an additional 25,527 shares during the period. Ticino Wealth bought a new position in shares of Medtronic during the 4th quarter worth approximately $2,049,000. First Eagle Investment Management LLC increased its holdings in shares of Medtronic by 0.4% during the 4th quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock worth $939,009,000 after acquiring an additional 40,196 shares during the last quarter. KBC Group NV increased its holdings in shares of Medtronic by 5.2% during the 4th quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock worth $41,354,000 after acquiring an additional 21,384 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in Medtronic by 12.7% in the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock valued at $75,988,000 after acquiring an additional 89,111 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 1.4%

NYSE MDT opened at $83.12 on Friday. The business has a fifty day moving average price of $80.15 and a two-hundred day moving average price of $87.52. The stock has a market capitalization of $106.40 billion, a PE ratio of 22.28, a PEG ratio of 2.20 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period in the previous year, the firm posted $1.62 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts expect that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were paid a $0.72 dividend. 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 3.5%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s payout ratio is presently 77.21%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on MDT. Robert W. Baird decreased 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. UBS Group cut their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Wells Fargo & Company reduced their target price on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Sanford C. Bernstein decreased their price target 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, Leerink Partners lowered their price target on shares of Medtronic from $117.00 to $104.00 and set an “outperform” 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.21.

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).