11,265,714 Shares in Medtronic PLC $MDT Bought by WCM Investment Management LLC

WCM Investment Management LLC bought a new stake in shares of Medtronic PLC (NYSE:MDT) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,265,714 shares of the medical technology company’s stock, valued at approximately $965,922,000. Medtronic accounts for about 2.2% of WCM Investment Management LLC’s investment portfolio, making the stock its 18th largest position.

Several other large investors have also recently made changes to their positions in the company. Lodestone Wealth Management LLC acquired a new position in Medtronic in the 4th quarter worth about $27,000. Anfield Capital Management LLC lifted its holdings in Medtronic by 410.7% during the fourth 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 in the last quarter. Monetary Solutions Ltd acquired a new stake in shares of Medtronic in the fourth quarter valued at about $27,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at about $29,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Medtronic during the third quarter worth about $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

NYSE:MDT opened at $83.20 on Monday. The company has a market cap of $106.50 billion, a P/E ratio of 22.30, a P/E/G ratio of 2.23 and a beta of 0.56. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company’s 50-day moving average price is $79.50 and its 200-day moving average price is $87.94. 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 announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) 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 company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the prior year, the company earned $1.62 EPS. Medtronic’s 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 forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were issued a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s payout ratio is 77.21%.

Analysts Set New Price Targets

Several research analysts recently weighed in on MDT shares. Royal Bank Of Canada restated an “outperform” rating and set a $118.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft cut their price objective on Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Evercore set a $105.00 target price on Medtronic in a report on Monday, July 6th. Truist Financial decreased their target price on Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $88.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.21.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic 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 transaction, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

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).