TKG Advisors LLC Makes New $2.30 Million Investment in Medtronic PLC $MDT

TKG Advisors LLC acquired a new position in Medtronic PLC (NYSE:MDT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,578 shares of the medical technology company’s stock, valued at approximately $2,303,000.

A number of other hedge funds have also made changes to their positions in the business. Argent Advisors Inc. lifted its holdings in shares of Medtronic by 2.8% during the 1st quarter. Argent Advisors Inc. now owns 36,755 shares of the medical technology company’s stock valued at $3,185,000 after acquiring an additional 987 shares in the last quarter. Vertrix Wealth Management LLC purchased a new position in Medtronic in the first quarter valued at about $3,287,000. USS Investment Management Ltd raised its position in Medtronic by 7.7% in the first quarter. USS Investment Management Ltd now owns 2,451,244 shares of the medical technology company’s stock valued at $212,376,000 after purchasing an additional 175,371 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Medtronic by 4.3% during the first quarter. IFM Investors Pty Ltd now owns 296,199 shares of the medical technology company’s stock worth $25,666,000 after purchasing an additional 12,117 shares in the last quarter. Finally, First Pacific Financial lifted its stake in shares of Medtronic by 2.1% during the first quarter. First Pacific Financial now owns 44,969 shares of the medical technology company’s stock worth $3,897,000 after purchasing an additional 917 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MDT. Citigroup lowered their target price on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Argus decreased their price target on Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 6th. Piper Sandler reiterated a “neutral” rating and set a $85.00 price objective on shares of Medtronic in a research note on Tuesday, June 16th. Weiss Ratings lowered shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Finally, Wells Fargo & Company reduced their target price on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total value 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 $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Medtronic Stock Performance

Shares of MDT stock opened at $79.32 on Thursday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $79.02 and a two-hundred day moving average of $89.23. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a market cap of $101.53 billion, a P/E ratio of 21.26, a PEG ratio of 2.10 and a beta of 0.56.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, analysts anticipate 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 is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

About Medtronic

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).