CGN Advisors LLC Buys 7,564 Shares of Medtronic PLC $MDT

CGN Advisors LLC boosted its stake in Medtronic PLC (NYSE:MDT) by 25.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,825 shares of the medical technology company’s stock after buying an additional 7,564 shares during the quarter. CGN Advisors LLC’s holdings in Medtronic were worth $2,959,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MDT. Madison Asset Management LLC grew its holdings in shares of Medtronic by 15.0% in 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 last quarter. Ticino Wealth bought a new position in Medtronic during the 4th quarter valued at about $2,049,000. First Eagle Investment Management LLC lifted its holdings in 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 valued at $939,009,000 after purchasing an additional 40,196 shares during the last quarter. KBC Group NV boosted its position in Medtronic by 5.2% in 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 in the last quarter. Finally, Cerity Partners LLC boosted its position in Medtronic by 12.7% in 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 in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Down 0.6%

MDT opened at $86.16 on Wednesday. The firm has a 50 day simple moving average of $81.27 and a 200 day simple moving average of $86.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The company has a market cap of $110.29 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 2.32 and a beta of 0.55. 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 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 revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the company posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a dividend of $0.72 per share. 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 dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s payout ratio is 77.21%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group raised shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $100.00 in a research note on Tuesday, July 28th. Jefferies Financial Group reissued a “hold” rating and issued a $88.00 target price on shares of Medtronic in a report on Thursday, June 4th. Weiss Ratings lowered Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Piper Sandler reaffirmed a “neutral” rating and set a $85.00 price target on shares of Medtronic in a report on Tuesday, June 16th. Finally, BTIG Research reaffirmed a “buy” rating and set a $91.00 price target on shares of Medtronic in a report on Monday, July 13th. Eighteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $98.83.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by company insiders.

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).