Boston Partners Sells 230,071 Shares of Medtronic PLC $MDT

Boston Partners lessened its stake in Medtronic PLC (NYSE:MDT) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,735,883 shares of the medical technology company’s stock after selling 230,071 shares during the period. Boston Partners owned about 0.53% of Medtronic worth $647,153,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Martingale Asset Management L P lifted its stake in shares of Medtronic by 1.0% in the 4th quarter. Martingale Asset Management L P now owns 39,050 shares of the medical technology company’s stock valued at $3,751,000 after purchasing an additional 385 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Medtronic by 96.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 454 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 223 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Medtronic by 3.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,913,417 shares of the medical technology company’s stock worth $856,223,000 after purchasing an additional 279,235 shares during the period. Van Lanschot Kempen Investment Management N.V. raised its stake in Medtronic by 2.3% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 359,722 shares of the medical technology company’s stock worth $34,555,000 after buying an additional 8,013 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its holdings in Medtronic by 5,724.9% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 134,381 shares of the medical technology company’s stock worth $12,909,000 after acquiring an additional 132,074 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $80.11 on Friday. The stock has a fifty day simple moving average of $80.85 and a two-hundred day simple moving average of $91.38. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The firm has a market cap of $102.85 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 2.30 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 (NYSE:MDT) last announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same period in the prior year, the company earned $1.62 earnings per share. Medtronic’s revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, June 26th. This is an increase 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%. Medtronic’s dividend payout ratio is 76.14%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction 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 completion of the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Sanford C. Bernstein cut their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft cut their price target on Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Citigroup cut their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. JPMorgan Chase & Co. cut their price target on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Finally, Rothschild & Co Redburn cut their price target on Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Seventeen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

About Medtronic

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).