Andra AP fonden Lowers Stock Position in Medtronic PLC $MDT

Andra AP fonden decreased its holdings in Medtronic PLC (NYSE:MDT) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,329 shares of the medical technology company’s stock after selling 10,400 shares during the quarter. Andra AP fonden’s holdings in Medtronic were worth $21,951,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Madison Asset Management LLC increased its stake in Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after purchasing an additional 25,527 shares during the last quarter. Ticino Wealth acquired a new position in shares of Medtronic in the 4th quarter valued at about $2,049,000. First Eagle Investment Management LLC boosted its holdings in shares of Medtronic by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock valued at $939,009,000 after buying an additional 40,196 shares during the period. KBC Group NV grew its position in shares of Medtronic by 5.2% during the 4th quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock valued at $41,354,000 after buying an additional 21,384 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in Medtronic by 12.7% during the fourth quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock worth $75,988,000 after acquiring an additional 89,111 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Leerink Partners cut their target price on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. 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. BTIG Research reissued a “buy” rating and issued a $91.00 price target on shares of Medtronic in a report on Monday, July 13th. The Goldman Sachs Group reduced their price objective on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Finally, Rothschild & Co Redburn lowered their price objective on Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $98.21.

Medtronic Stock Performance

Shares of NYSE MDT opened at $83.29 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $79.68 and a 200-day simple moving average of $87.84. The company has a market cap of $106.61 billion, a PE ratio of 22.33, a P/E/G ratio of 2.23 and a beta of 0.56. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were issued a $0.72 dividend. The ex-dividend date of this dividend was Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.5%. Medtronic’s dividend payout ratio is currently 77.21%.

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 shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

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).