Janus Henderson Group PLC decreased its holdings in shares of Medtronic PLC (NYSE:MDT – Free Report) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,835,816 shares of the medical technology company’s stock after selling 278,342 shares during the period. Janus Henderson Group PLC owned approximately 0.22% of Medtronic worth $245,717,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Medtronic during the fourth quarter worth about $1,653,485,000. WCM Investment Management LLC purchased a new stake in Medtronic in the first quarter valued at approximately $965,922,000. Capital Research Global Investors lifted its position in Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after purchasing an additional 3,880,174 shares during the last quarter. Wellington Management Group LLP lifted its position in Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after purchasing an additional 2,658,981 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Medtronic by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on MDT shares. Needham & Company LLC reissued a “buy” rating and issued a $101.00 price target on shares of Medtronic in a report on Wednesday, June 17th. Citigroup dropped their price objective on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Weiss Ratings lowered shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. cut their target price on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.83.
Medtronic Stock Down 2.1%
Shares of NYSE MDT opened at $85.74 on Friday. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The firm’s 50 day simple moving average is $80.80 and its two-hundred day simple moving average is $87.08. The stock has a market capitalization of $109.75 billion, a P/E ratio of 22.99, a PEG ratio of 2.35 and a beta of 0.56.
Medtronic (NYSE:MDT – Get Free Report) last announced 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 firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.
Medtronic Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, June 26th. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is 77.21%.
Insiders Place Their Bets
In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.
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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