Healthcare of Ontario Pension Plan Trust Fund Purchases 258,783 Shares of Medtronic PLC $MDT

Healthcare of Ontario Pension Plan Trust Fund boosted its position in Medtronic PLC (NYSE:MDT) by 103.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 508,704 shares of the medical technology company’s stock after acquiring an additional 258,783 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Medtronic were worth $48,866,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MDT. Lodestone Wealth Management LLC bought a new position in Medtronic in the fourth quarter valued at about $27,000. Anfield Capital Management LLC boosted its holdings 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 acquiring an additional 230 shares during the last quarter. Board of the Pension Protection Fund bought a new position in Medtronic in the fourth quarter valued at about $29,000. GoalVest Advisory LLC bought a new position in Medtronic in the fourth quarter valued at about $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in Medtronic in the fourth quarter valued at about $29,000. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings cut Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Leerink Partners reduced their target price on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Sanford C. Bernstein reduced their target price on Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. JPMorgan Chase & Co. reduced their target price on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Medtronic Trading Down 0.1%

NYSE:MDT opened at $80.11 on Monday. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The stock has a market capitalization of $102.85 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.30 and a beta of 0.58. The business’s 50-day simple moving average is $80.85 and its 200-day simple moving average is $91.29.

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

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.72 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. Medtronic’s dividend payout ratio (DPR) is presently 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).