Dai ichi Life Insurance Company Ltd cut its stake in Medtronic PLC (NYSE:MDT – Free Report) by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,597 shares of the medical technology company’s stock after selling 8,467 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Medtronic were worth $3,431,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in MDT. Madison Asset Management LLC boosted its stake in shares of Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after purchasing an additional 25,527 shares in the last quarter. Ticino Wealth bought a new position in Medtronic in the fourth quarter worth approximately $2,049,000. First Eagle Investment Management LLC raised its stake in Medtronic by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock worth $939,009,000 after buying an additional 40,196 shares in the last quarter. KBC Group NV lifted its holdings in Medtronic by 5.2% during the fourth quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock worth $41,354,000 after buying an additional 21,384 shares during the period. Finally, Cerity Partners LLC boosted its position in Medtronic by 12.7% during the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock valued at $75,988,000 after acquiring an additional 89,111 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.
Insiders Place Their Bets
In related news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by insiders.
Medtronic Price Performance
Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities research analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.
Medtronic Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.5%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s payout ratio is presently 77.21%.
Analyst Upgrades and Downgrades
Several research firms have recently commented on MDT. Evercore set a $105.00 price target on Medtronic in a research report on Monday, July 6th. Mizuho cut their target price on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $101.00 target price on shares of Medtronic in a report on Wednesday, June 17th. Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a report on Wednesday, June 3rd. Finally, Weiss Ratings downgraded shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.21.
Check Out Our Latest Stock Report on MDT
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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