Mariner LLC Buys 37,485 Shares of Medtronic PLC $MDT

Mariner LLC lifted its holdings in Medtronic PLC (NYSE:MDT) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 776,500 shares of the medical technology company’s stock after acquiring an additional 37,485 shares during the period. Mariner LLC’s holdings in Medtronic were worth $74,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Lodestone Wealth Management LLC bought a new stake in Medtronic in the 4th quarter valued at about $27,000. Anfield Capital Management LLC boosted 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 purchasing an additional 230 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in Medtronic during the 4th quarter valued at about $29,000. GoalVest Advisory LLC purchased a new position in shares of Medtronic in the 4th quarter worth approximately $29,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $29,000. 82.06% of the stock is owned by institutional investors.

Insider Transactions at Medtronic

In related 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 value 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 $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 Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Mizuho dropped their price objective on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. BTIG Research raised shares of Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Wednesday, June 3rd. 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 report on Thursday, June 4th. TD Cowen reaffirmed a “buy” rating and issued a $119.00 price target on shares of Medtronic in a report on Thursday, June 4th. Finally, Wells Fargo & Company cut their target price on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Medtronic Stock Performance

NYSE MDT opened at $80.37 on Tuesday. The company has a 50-day simple moving average of $80.73 and a two-hundred day simple moving average of $91.12. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The firm has a market cap of $103.19 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.30 and a beta of 0.58.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. Medtronic’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. Medtronic’s payout ratio is currently 76.14%.

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).