Fisher Funds Management LTD Decreases Holdings in Medtronic PLC $MDT

Fisher Funds Management LTD decreased its stake in Medtronic PLC (NYSE:MDT) by 11.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,347 shares of the medical technology company’s stock after selling 6,425 shares during the period. Fisher Funds Management LTD’s holdings in Medtronic were worth $4,276,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Monetary Solutions Ltd purchased a new stake in shares of Medtronic during the 4th quarter worth approximately $27,000. Lodestone Wealth Management LLC bought a new stake in shares of Medtronic in the 4th quarter worth approximately $27,000. Anfield Capital Management LLC lifted its stake in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in Medtronic in the fourth quarter valued at approximately $29,000. Finally, GoalVest Advisory LLC purchased a new position in Medtronic in the fourth quarter valued at approximately $29,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent research reports. Evercore set a $106.00 target price on Medtronic and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. UBS Group dropped their price target on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $118.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Finally, BTIG Research raised Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Wednesday, June 3rd. Seventeen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Medtronic Trading Up 0.0%

Shares of MDT stock opened at $79.37 on Monday. The company’s fifty day simple moving average is $80.13 and its two-hundred day simple moving average is $90.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The stock has a market capitalization of $101.90 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.13 and a beta of 0.58.

Medtronic (NYSE:MDT) last posted its quarterly earnings results 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 firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the company earned $1.62 earnings per share. The business’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. As a group, 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 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 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).