87,059 Shares in Medtronic PLC $MDT Acquired by ABN Amro Investment Solutions

ABN Amro Investment Solutions purchased a new position in Medtronic PLC (NYSE:MDT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 87,059 shares of the medical technology company’s stock, valued at approximately $7,544,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in Medtronic by 2.7% in the first quarter. PNC Financial Services Group Inc. now owns 658,800 shares of the medical technology company’s stock valued at $57,085,000 after buying an additional 17,089 shares during the last quarter. Oslo Pensjonsforsikring AS acquired a new position in Medtronic in the first quarter valued at approximately $497,000. Madison Asset Management LLC increased its stake in Medtronic by 25.0% in the first quarter. Madison Asset Management LLC now owns 244,000 shares of the medical technology company’s stock valued at $21,143,000 after purchasing an additional 48,784 shares during the last quarter. Convergence Investment Partners LLC raised its holdings in Medtronic by 82.8% during the first quarter. Convergence Investment Partners LLC now owns 46,789 shares of the medical technology company’s stock worth $4,054,000 after purchasing an additional 21,196 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in Medtronic by 9.0% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 46,929 shares of the medical technology company’s stock worth $4,066,000 after purchasing an additional 3,879 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction that occurred on Monday, June 8th. The shares were 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 directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MDT shares. The Goldman Sachs Group reduced their price target on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft decreased their price target on Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Needham & Company LLC restated a “buy” rating and issued a $101.00 target price on shares of Medtronic in a research note on Wednesday, June 17th. Rothschild & Co Redburn lowered their target price on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Finally, TD Cowen dropped their price target on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.21.

Medtronic Stock Performance

NYSE:MDT opened at $82.00 on Thursday. The firm’s fifty day simple moving average is $79.90 and its 200-day simple moving average is $87.65. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The stock has a market cap of $104.97 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 2.21 and a beta of 0.56. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. The firm had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts expect that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

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

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).