Medtronic PLC $MDT Shares Purchased by CX Institutional

CX Institutional raised its stake in Medtronic PLC (NYSE:MDT) by 18.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,525 shares of the medical technology company’s stock after purchasing an additional 15,411 shares during the period. CX Institutional’s holdings in Medtronic were worth $7,629,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Anfield Capital Management LLC raised 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 worth $27,000 after acquiring an additional 230 shares in the last quarter. Monetary Solutions Ltd acquired a new position in Medtronic in the fourth quarter valued at $27,000. Acumen Wealth Advisors LLC purchased a new position in shares of Medtronic during the fourth quarter worth about $29,000. Imprint Wealth LLC purchased a new position in shares of Medtronic during the third quarter worth about $31,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Medtronic during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Sanford C. Bernstein decreased their target price on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Truist Financial cut their price target on Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Piper Sandler reiterated a “neutral” rating and issued a $85.00 price objective on shares of Medtronic in a research note on Tuesday, June 16th. Robert W. Baird decreased their price objective on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $98.83.

Medtronic Stock Performance

Shares of MDT opened at $86.67 on Tuesday. The stock has a market capitalization of $110.94 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.29 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company’s fifty day moving average is $81.10 and its two-hundred day moving average is $86.93.

Medtronic (NYSE:MDT) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share 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 business had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The business’s quarterly 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 predict that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were issued a $0.72 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is presently 77.21%.

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).