Pier 88 Investment Partners LLC bought a new stake in Medtronic PLC (NYSE:MDT – Free Report) in the 4th quarter, HoldingsChannel.com reports. The firm bought 30,400 shares of the medical technology company’s stock, valued at approximately $2,920,000.
Several other large investors also recently made changes to their positions in MDT. Brighton Jones LLC grew its stake in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Medtronic by 9.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after buying an additional 381 shares during the period. Jump Financial LLC acquired a new stake in shares of Medtronic in the 2nd quarter valued at about $299,000. Main Street Financial Solutions LLC boosted its stake in Medtronic by 28.9% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after purchasing an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC increased its holdings in Medtronic by 21.3% during the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock worth $1,676,000 after purchasing an additional 3,376 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Medtronic
In other news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. The trade was a 61.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by insiders.
Medtronic Price Performance
Medtronic (NYSE:MDT – Get Free Report) last announced its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the previous year, the business earned $1.38 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.57 EPS for the current year.
Medtronic Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, March 27th. Medtronic’s payout ratio is presently 79.11%.
Analysts Set New Price Targets
A number of analysts have commented on MDT shares. UBS Group decreased their price objective on Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Needham & Company LLC reissued a “buy” rating and set a $120.00 price objective on shares of Medtronic in a report on Thursday, March 26th. Leerink Partners reissued an “outperform” rating and set a $119.00 price objective on shares of Medtronic in a report on Tuesday, March 10th. Daiwa Securities Group decreased their price objective on Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, Truist Financial decreased their price objective on Medtronic from $103.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $107.80.
Check Out Our Latest Research Report on MDT
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).
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