Stonebridge Financial Group LLC Grows Stake in Medtronic PLC $MDT

Stonebridge Financial Group LLC boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 18.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,010 shares of the medical technology company’s stock after acquiring an additional 8,397 shares during the quarter. Stonebridge Financial Group LLC’s holdings in Medtronic were worth $4,225,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Madison Asset Management LLC boosted its stake in shares of 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 purchasing an additional 25,527 shares during the period. Ticino Wealth purchased a new stake in Medtronic in the 4th quarter worth about $2,049,000. First Eagle Investment Management LLC lifted its stake in Medtronic by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock worth $939,009,000 after purchasing an additional 40,196 shares during the last quarter. KBC Group NV boosted its position in shares of Medtronic by 5.2% during the fourth quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock valued at $41,354,000 after buying an additional 21,384 shares during the period. Finally, Cerity Partners LLC grew its stake in shares of Medtronic by 12.7% during the fourth quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock valued at $75,988,000 after buying an additional 89,111 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Up 1.5%

Shares of NYSE MDT opened at $86.67 on Tuesday. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The stock’s fifty day simple moving average is $81.10 and its two-hundred day simple moving average is $86.93. The stock has a market capitalization of $110.94 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 2.29 and a beta of 0.56. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52.

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

Medtronic Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MDT. Deutsche Bank Aktiengesellschaft reduced their price target on Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Evercore set a $105.00 price target on Medtronic in a report on Monday, July 6th. Piper Sandler restated a “neutral” rating and set a $85.00 price objective on shares of Medtronic in a report on Tuesday, June 16th. Robert W. Baird lowered their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Finally, Sanford C. Bernstein decreased their price objective on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $98.83.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction 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 represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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).