Focus Partners Wealth Raises Holdings in Medtronic PLC $MDT

Focus Partners Wealth boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 106.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 463,460 shares of the medical technology company’s stock after purchasing an additional 239,265 shares during the quarter. Focus Partners Wealth’s holdings in Medtronic were worth $44,535,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Artisan Partners Limited Partnership boosted its position in shares of Medtronic by 2.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after acquiring an additional 31,314 shares in the last quarter. CSM Advisors LLC boosted its position in shares of Medtronic by 13.2% during the 3rd quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock worth $27,169,000 after acquiring an additional 33,167 shares in the last quarter. SageView Advisory Group LLC boosted its position in shares of 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 acquiring an additional 15,062 shares in the last quarter. Madison Asset Management LLC boosted its position 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 worth $18,752,000 after acquiring an additional 25,527 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in shares of Medtronic by 17.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company’s stock valued at $8,316,000 after purchasing an additional 13,177 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MDT. Jefferies Financial Group reissued a “hold” rating and issued a $88.00 target price on shares of Medtronic in a research report on Thursday, June 4th. BTIG Research raised Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Wednesday, June 3rd. Mizuho decreased their target price on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Daiwa Securities Group decreased their target price on Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Wells Fargo & Company decreased their target price on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Insider Activity

In other 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 directly 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 filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Up 0.2%

MDT opened at $80.37 on Tuesday. The business has a 50 day moving average price of $80.73 and a two-hundred day moving average price of $91.12. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The company has a market cap of $103.19 billion, a PE ratio of 21.55, a P/E/G ratio of 2.30 and a beta of 0.58. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. The firm had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The firm’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, research analysts anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.72 per share. This is a positive change 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 dividend payout ratio (DPR) is currently 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).