Medtronic PLC $MDT Holdings Raised by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 311.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,526 shares of the medical technology company’s stock after purchasing an additional 17,056 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Medtronic were worth $2,164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Destination Wealth Management acquired a new position in Medtronic during the 4th quarter valued at approximately $612,000. Eventide Asset Management LLC boosted its position in Medtronic by 107.0% during the 4th quarter. Eventide Asset Management LLC now owns 112,264 shares of the medical technology company’s stock valued at $10,828,000 after purchasing an additional 58,023 shares during the period. Brasada Capital Management LP boosted its position in Medtronic by 742.1% during the 4th quarter. Brasada Capital Management LP now owns 50,525 shares of the medical technology company’s stock valued at $4,853,000 after purchasing an additional 44,525 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Medtronic by 74.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,236,247 shares of the medical technology company’s stock valued at $406,934,000 after purchasing an additional 1,805,524 shares during the period. Finally, CreativeOne Wealth LLC boosted its position in Medtronic by 2.0% during the 4th quarter. CreativeOne Wealth LLC now owns 14,108 shares of the medical technology company’s stock valued at $1,355,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of a number of analyst reports. Argus reduced their price objective on Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, April 6th. 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 report on Thursday, June 4th. Weiss Ratings lowered Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. 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 report on Thursday, June 4th. Finally, Leerink Partners reduced their price objective on Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Medtronic Trading Up 0.2%

Shares of MDT stock opened at $80.37 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The stock has a fifty day moving average of $80.73 and a two-hundred day moving average of $91.12. The firm has a market capitalization of $103.19 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 2.30 and a beta of 0.58.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the business earned $1.62 EPS. The company’s quarterly 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. As a group, research analysts expect that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced 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 represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s payout ratio is presently 76.14%.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business’s 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by company 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).