Louisiana State Employees Retirement System bought a new stake in shares of Medtronic PLC (NYSE:MDT – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 65,300 shares of the medical technology company’s stock, valued at approximately $5,658,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Monetary Solutions Ltd acquired a new position in Medtronic in the fourth quarter valued at approximately $27,000. Lodestone Wealth Management LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at $27,000. Anfield Capital Management LLC raised its holdings in shares of Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares during the period. Board of the Pension Protection Fund acquired a new position in Medtronic during the 4th quarter worth about $29,000. Finally, GoalVest Advisory LLC purchased a new position in Medtronic during the 4th quarter valued at about $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Truist Financial dropped their target price on Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Argus lowered their target price on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Leerink Partners cut their target price on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. 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. Finally, Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Seventeen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.
Insider Buying and Selling
In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.
Medtronic Price Performance
Shares of MDT opened at $80.94 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $79.39 and its two-hundred day moving average is $89.74. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The firm has a market capitalization of $103.60 billion, a PE ratio of 21.70, a P/E/G ratio of 2.16 and a beta of 0.58.
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 (EPS) for the quarter, topping 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 business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same period in the prior year, the business posted $1.62 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Research analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.
Medtronic Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is 76.14%.
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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