Brasada Capital Management LP Acquires 44,525 Shares of Medtronic PLC $MDT

Brasada Capital Management LP lifted its position in shares of Medtronic PLC (NYSE:MDT) by 742.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,525 shares of the medical technology company’s stock after purchasing an additional 44,525 shares during the quarter. Brasada Capital Management LP’s holdings in Medtronic were worth $4,853,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Curbstone Financial Management Corp raised its position in shares of Medtronic by 1.8% during the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock worth $537,000 after purchasing an additional 100 shares during the period. New England Capital Financial Advisors LLC lifted its stake in Medtronic by 7.8% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after acquiring an additional 101 shares in the last quarter. Ipsen Advisor Group LLC lifted its stake in Medtronic by 1.7% during the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after acquiring an additional 101 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Medtronic by 0.3% during the 4th quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock valued at $3,120,000 after acquiring an additional 101 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC lifted its stake in Medtronic by 3.3% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $309,000 after acquiring an additional 102 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction dated 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 owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Needham & Company LLC dropped their price objective on Medtronic from $120.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Royal Bank Of Canada restated an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Wells Fargo & Company reduced their price objective on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Finally, Truist Financial reduced their price objective on Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Medtronic Stock Down 0.3%

Shares of NYSE MDT opened at $80.11 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 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The business’s fifty day moving average price is $80.85 and its 200-day moving average price is $91.38. The stock has a market capitalization of $102.85 billion, a PE ratio of 21.48, a P/E/G ratio of 2.30 and a beta of 0.58.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The firm 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%.The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities research analysts anticipate that Medtronic PLC will post 5.94 EPS 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 issued a dividend of $0.72 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. Medtronic’s payout ratio is currently 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).