Mach 1 Financial Group LLC raised its stake in shares of Medtronic PLC (NYSE:MDT – Free Report) by 351.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,402 shares of the medical technology company’s stock after buying an additional 8,878 shares during the quarter. Mach 1 Financial Group LLC’s holdings in Medtronic were worth $1,095,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of 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 lifted its position in Medtronic by 410.7% in the 4th 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 during the last quarter. Valley Wealth Managers Inc. bought a new stake in Medtronic in the 3rd quarter worth approximately $29,000. Board of the Pension Protection Fund bought a new stake in Medtronic in the 4th quarter worth approximately $29,000. Finally, GoalVest Advisory LLC bought a new stake in Medtronic in the 4th quarter worth approximately $29,000. Institutional investors own 82.06% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on MDT. Jefferies Financial Group restated a “hold” rating and issued a $95.00 target price on shares of Medtronic in a research report on Thursday, April 23rd. Wells Fargo & Company started coverage on Medtronic in a research report on Friday, January 30th. They issued an “overweight” rating and a $114.00 price objective for the company. Stifel Nicolaus lowered their price objective on Medtronic from $105.00 to $95.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Barclays boosted their price objective on Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Finally, Truist Financial lowered their price objective on Medtronic from $103.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, April 15th. Fifteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $107.80.
Medtronic News Summary
Here are the key news stories impacting Medtronic this week:
- Positive Sentiment: Medtronic said the SPR Therapeutics deal will strengthen its neuromodulation portfolio and broaden treatment options for chronic pain patients, which could support longer-term growth in a key business area. Medtronic announces intent to acquire SPR Therapeutics, Inc., expanding care options for people living with chronic pain
- Positive Sentiment: The acquisition adds temporary peripheral nerve stimulation technology, which could help Medtronic deepen its presence in pain management and neuromodulation markets. Medtronic plans to buy SPR Therapeutics for $650 million to expand pain treatment options
- Neutral Sentiment: Piper Sandler kept a Hold rating on Medtronic, suggesting analysts are not yet calling for a major re-rating after the deal announcement. Piper Sandler Sticks to Their Hold Rating for Medtronic (MDT)
- Neutral Sentiment: Healthcare stocks were broadly mixed, so Medtronic’s move may also reflect sector-level rotation rather than company-specific weakness alone. Sector Update: Healthcare Stocks Mixed Late Afternoon
- Negative Sentiment: Some market commentary described Medtronic’s stock as sliding after the acquisition announcement, indicating investors may be cautious about the deal price and its impact on near-term returns. Medtronic (MDT) Stock Slides as Company Announces $650M SPR Therapeutics Deal
Medtronic Price Performance
Shares of MDT stock opened at $78.09 on Thursday. The stock has a market cap of $100.26 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.87 and a beta of 0.62. The business’s fifty day moving average is $83.94 and its 200 day moving average is $93.34. Medtronic PLC has a twelve month low of $74.40 and a twelve month high of $106.33. 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 (NYSE:MDT – Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 earnings per share. Research analysts expect that Medtronic PLC will post 5.56 EPS for the current fiscal year.
Medtronic Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s dividend payout ratio is presently 79.11%.
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).
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