Y Intercept Hong Kong Ltd Purchases 132,074 Shares of Medtronic PLC $MDT

Y Intercept Hong Kong Ltd lifted its position in shares of Medtronic PLC (NYSE:MDT) by 5,724.9% during the fourth quarter, HoldingsChannel reports. The firm owned 134,381 shares of the medical technology company’s stock after buying an additional 132,074 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Medtronic were worth $12,909,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. Brighton Jones LLC boosted its position in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Medtronic by 9.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after acquiring an additional 381 shares in the last quarter. Jump Financial LLC bought a new stake in Medtronic in the 2nd quarter valued at $299,000. Main Street Financial Solutions LLC lifted its position in Medtronic by 28.9% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after acquiring an additional 3,218 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its position in Medtronic by 21.3% in the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after acquiring an additional 3,376 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on MDT shares. Argus cut their price objective on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Piper Sandler cut their price objective on shares of Medtronic from $91.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Finally, Truist Financial cut their price target on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Medtronic Stock Down 0.3%

Medtronic stock opened at $80.11 on Friday. The firm has a market capitalization of $102.85 billion, a PE ratio of 21.48, a P/E/G ratio of 2.30 and a beta of 0.58. The company’s 50-day moving average is $80.85 and its 200-day moving average is $91.38. 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.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the prior year, the business earned $1.62 EPS. Medtronic’s quarterly revenue 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 anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently declared 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 of this dividend is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. Medtronic’s payout ratio is currently 76.14%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the company’s 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 owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

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).