Advisortrust Partners LLC acquired a new position in shares of Medtronic PLC (NYSE:MDT – Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 42,521 shares of the medical technology company’s stock, valued at approximately $4,085,000. Medtronic makes up approximately 1.8% of Advisortrust Partners LLC’s holdings, making the stock its 14th largest position.
Other hedge funds have also recently bought and sold shares of the company. Artisan Partners Limited Partnership raised its position in shares of Medtronic by 2.6% during the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after acquiring an additional 31,314 shares during the last quarter. CSM Advisors LLC boosted its holdings in Medtronic by 13.2% in the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after acquiring an additional 33,167 shares during the last quarter. SageView Advisory Group LLC increased its position in Medtronic by 164.8% during the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after purchasing an additional 15,062 shares during the period. Madison Asset Management LLC raised its holdings in Medtronic by 15.0% during the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after purchasing an additional 25,527 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in Medtronic by 17.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company’s stock worth $8,316,000 after purchasing an additional 13,177 shares during the last quarter. 82.06% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the stock. Barclays upped their price objective on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings cut shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Piper Sandler reiterated a “neutral” rating and set a $85.00 price target on shares of Medtronic in a report on Tuesday. Finally, Stifel Nicolaus set a $80.00 price objective on Medtronic in a research report on Wednesday, June 3rd. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.
Medtronic Trading Up 0.0%
NYSE:MDT opened at $79.37 on Friday. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $101.90 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.13 and a beta of 0.58. The firm has a fifty day simple moving average of $80.13 and a two-hundred day simple moving average of $90.50.
Medtronic (NYSE:MDT – Get Free Report) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same period last year, the business posted $1.62 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.
Medtronic Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s payout ratio is 76.14%.
Insider Buying and Selling
In other 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 sale, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.
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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