MASTERINVEST Kapitalanlage GmbH boosted its position in Medtronic PLC (NYSE:MDT – Free Report) by 47.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,286 shares of the medical technology company’s stock after purchasing an additional 6,858 shares during the quarter. MASTERINVEST Kapitalanlage GmbH’s holdings in Medtronic were worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC boosted its stake in shares of Medtronic by 21.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 6,728 shares of the medical technology company’s stock worth $583,000 after purchasing an additional 1,168 shares during the last quarter. Roberts Glore & Co. Inc. IL raised its position in shares of Medtronic by 13.5% in the first quarter. Roberts Glore & Co. Inc. IL now owns 6,997 shares of the medical technology company’s stock valued at $606,000 after buying an additional 834 shares during the last quarter. CFO Capital Management LLC raised its position in shares of Medtronic by 31.0% in the first quarter. CFO Capital Management LLC now owns 4,095 shares of the medical technology company’s stock valued at $355,000 after buying an additional 970 shares during the last quarter. Nwam LLC lifted its stake in shares of Medtronic by 2.4% during the first quarter. Nwam LLC now owns 16,273 shares of the medical technology company’s stock valued at $1,410,000 after buying an additional 374 shares during the period. Finally, Nicholson Wealth Management Group LLC lifted its stake in shares of Medtronic by 1.5% during the first quarter. Nicholson Wealth Management Group LLC now owns 19,314 shares of the medical technology company’s stock valued at $1,674,000 after buying an additional 278 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Medtronic
In other news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.26% of the stock is owned by corporate insiders.
Medtronic Trading Up 1.5%
Medtronic (NYSE:MDT – Get Free Report) last issued 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 firm had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter last year, the firm earned $1.62 earnings per share. 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. On average, equities research analysts expect that Medtronic PLC will post 5.94 EPS for the current year.
Medtronic Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a $0.72 dividend. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. Medtronic’s dividend payout ratio (DPR) is 77.21%.
Analyst Ratings Changes
MDT has been the topic of a number of analyst reports. Jefferies Financial Group restated a “hold” rating and set a $88.00 target price on shares of Medtronic in a research report on Thursday, June 4th. UBS Group decreased their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Rothschild & Co Redburn lowered their price objective on Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, June 5th. The Goldman Sachs Group dropped their target price on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Finally, Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.21.
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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