Aviva PLC Buys 58,755 Shares of Medtronic PLC $MDT

Aviva PLC lifted its stake in Medtronic PLC (NYSE:MDT) by 5.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,050,282 shares of the medical technology company’s stock after acquiring an additional 58,755 shares during the period. Aviva PLC owned 0.08% of Medtronic worth $100,890,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in Medtronic in the 4th quarter worth approximately $1,653,485,000. Capital Research Global Investors increased its position in Medtronic by 12.6% in the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after buying an additional 3,880,174 shares during the period. Barclays PLC increased its position in Medtronic by 104.6% in the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock worth $650,604,000 after buying an additional 3,492,192 shares during the period. Schroder Investment Management Group increased its position in Medtronic by 78.3% in the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock worth $717,143,000 after buying an additional 3,307,211 shares during the period. Finally, Wellington Management Group LLP increased its position in Medtronic by 35.3% in the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after buying an additional 2,658,981 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

MDT opened at $80.28 on Friday. The stock has a market cap of $103.07 billion, a PE ratio of 21.52, a P/E/G ratio of 1.95 and a beta of 0.58. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The stock’s 50 day simple moving average is $80.97 and its 200-day simple moving average is $91.46.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.Medtronic’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 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts forecast 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 given a dividend of $0.72 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is presently 76.14%.

Analyst Upgrades and Downgrades

Several brokerages have commented on MDT. Citigroup dropped their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Needham & Company LLC dropped their price target on Medtronic from $120.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Evercore set a $106.00 price target on Medtronic and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $119.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Insider Activity

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 sale, the executive vice president directly owned 37,227 shares in the company, valued at approximately $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 accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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).