R Squared Ltd Acquires 9,266 Shares of Medtronic PLC $MDT

R Squared Ltd increased its stake in Medtronic PLC (NYSE:MDT) by 412.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,513 shares of the medical technology company’s stock after acquiring an additional 9,266 shares during the period. Medtronic comprises about 0.5% of R Squared Ltd’s holdings, making the stock its 24th largest holding. R Squared Ltd’s holdings in Medtronic were worth $998,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Lodestone Wealth Management LLC bought a new stake in shares of Medtronic during the 4th quarter valued at about $27,000. Anfield Capital Management LLC raised its stake in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after buying an additional 230 shares in the last quarter. Monetary Solutions Ltd purchased a new stake in Medtronic in the fourth quarter worth about $27,000. Board of the Pension Protection Fund purchased a new stake in Medtronic in the fourth quarter worth about $29,000. Finally, GoalVest Advisory LLC bought a new stake in Medtronic during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the business’s 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 in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Medtronic Stock Performance

NYSE:MDT traded up $1.25 during trading hours on Tuesday, reaching $84.31. The company had a trading volume of 3,151,522 shares, compared to its average volume of 9,343,664. 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 PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The firm has a market cap of $107.92 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.23 and a beta of 0.56. The firm’s 50 day moving average price is $79.04 and its 200-day moving average price is $89.00.

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, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. Medtronic’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. On average, analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.4%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Robert W. Baird dropped their target price 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. Jefferies Financial Group reaffirmed a “hold” rating and set a $88.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. Citigroup lowered their price objective on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. JPMorgan Chase & Co. dropped their target price on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Finally, UBS Group cut their target price on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $98.96.

Medtronic 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).