&PARTNERS Purchases 52,081 Shares of Medtronic PLC $MDT

&PARTNERS increased its position in Medtronic PLC (NYSE:MDT) by 13.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 449,087 shares of the medical technology company’s stock after buying an additional 52,081 shares during the quarter. &PARTNERS’s holdings in Medtronic were worth $43,153,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Artisan Partners Limited Partnership boosted its position in shares of Medtronic by 2.6% during the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after buying an additional 31,314 shares during the last quarter. CSM Advisors LLC boosted its position in Medtronic by 13.2% in the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock worth $27,169,000 after purchasing an additional 33,167 shares during the last quarter. SageView Advisory Group LLC boosted its position in Medtronic by 164.8% in the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock worth $2,305,000 after purchasing an additional 15,062 shares during the last quarter. Madison Asset Management LLC boosted its position in Medtronic by 15.0% in the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after purchasing an additional 25,527 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Medtronic by 17.8% in the third quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company’s stock worth $8,316,000 after purchasing an additional 13,177 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $81.36 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The firm has a market cap of $104.45 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.16 and a beta of 0.58. The business’s fifty day moving average is $80.62 and its 200 day moving average is $90.95.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) 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 period in the previous year, the company posted $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 predict that Medtronic PLC will post 5.94 EPS 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 paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is presently 76.14%.

Analysts Set New Price Targets

Several research firms have weighed in on MDT. JPMorgan Chase & Co. cut their price objective on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Stifel Nicolaus set a $80.00 price objective on Medtronic in a research report on Wednesday, June 3rd. TD Cowen reissued a “buy” rating and issued a $119.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. Robert W. Baird cut their price objective on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Finally, Daiwa Securities Group cut their price objective on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.00.

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).