Andra AP fonden Reduces Stock Holdings in Medtronic PLC $MDT

Andra AP fonden reduced its stake in Medtronic PLC (NYSE:MDT) by 17.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 263,729 shares of the medical technology company’s stock after selling 57,400 shares during the period. Andra AP fonden’s holdings in Medtronic were worth $25,334,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MDT. Lodestone Wealth Management LLC acquired a new stake in shares of Medtronic during the fourth quarter worth about $27,000. Anfield Capital Management LLC increased its position in shares of Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic during the fourth quarter worth about $29,000. GoalVest Advisory LLC acquired a new stake in shares of Medtronic during the fourth quarter worth about $29,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Medtronic during the third quarter worth about $31,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of MDT opened at $80.28 on Friday. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The stock’s 50 day moving average is $80.97 and its two-hundred day moving average is $91.46. The firm has a market capitalization of $103.07 billion, a PE ratio of 21.52, a P/E/G ratio of 1.95 and a beta of 0.58. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating 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 analyst estimates of $9.62 billion. During the same quarter in the previous year, the company earned $1.62 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Research analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently declared 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%. The ex-dividend date is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is 76.14%.

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 Ratings Changes

A number of analysts have recently commented on MDT shares. Argus cut their target price on Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Sanford C. Bernstein cut their target price on Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Leerink Partners cut their target price on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. BTIG Research upgraded Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Wednesday, June 3rd. Finally, Daiwa Securities Group lowered their price target on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Seventeen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

About Medtronic

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).