Banque Cantonale Vaudoise Increases Stake in Medtronic PLC $MDT

Banque Cantonale Vaudoise increased its stake in Medtronic PLC (NYSE:MDT) by 33.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,616 shares of the medical technology company’s stock after purchasing an additional 16,967 shares during the period. Banque Cantonale Vaudoise’s holdings in Medtronic were worth $5,859,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Artisan Partners Limited Partnership raised its holdings 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 worth $117,579,000 after purchasing an additional 31,314 shares during the last quarter. CSM Advisors LLC boosted its holdings in Medtronic by 13.2% in the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after purchasing an additional 33,167 shares during the last quarter. SageView Advisory Group LLC grew its position in Medtronic by 164.8% during the 3rd 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 period. Madison Asset Management LLC raised its stake in shares of Medtronic by 15.0% during the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after buying an additional 25,527 shares during the last quarter. Finally, Ticino Wealth acquired a new position in shares of Medtronic in the 4th quarter valued at about $2,049,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $80.16 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.87 and a current ratio of 2.13. The firm has a fifty day moving average of $79.67 and a 200 day moving average of $89.95. The firm has a market cap of $102.61 billion, a PE ratio of 21.49, a PEG ratio of 2.16 and a beta of 0.58. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33.

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

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.72 per share. This is an increase 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 yield of 3.6%. Medtronic’s dividend payout ratio (DPR) is presently 76.14%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Robert W. Baird dropped their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Barclays raised their price objective on shares of Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Leerink Partners decreased their target price on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Evercore set a $106.00 price target on shares of Medtronic and gave the company an “outperform” rating in a research report on Thursday, April 9th. Finally, Citigroup decreased their price objective on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Seventeen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus price target 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).