Dai ichi Life Insurance Company Ltd Cuts Stock Position in Medtronic PLC $MDT

Dai ichi Life Insurance Company Ltd decreased its position in shares of Medtronic PLC (NYSE:MDT) by 17.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,597 shares of the medical technology company’s stock after selling 8,467 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Medtronic were worth $3,431,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Monetary Solutions Ltd acquired a new stake in shares of Medtronic during the fourth quarter worth about $27,000. Lodestone Wealth Management LLC acquired a new position in shares of Medtronic in the fourth quarter valued at approximately $27,000. Anfield Capital Management LLC increased its stake in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after buying an additional 230 shares during the period. Acumen Wealth Advisors LLC purchased a new stake in Medtronic during the 4th quarter worth approximately $29,000. Finally, Imprint Wealth LLC acquired a new stake in Medtronic during the 3rd quarter worth approximately $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Price Performance

Medtronic stock opened at $83.12 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $80.15 and a 200-day simple moving average of $87.52. The stock has a market cap of $106.40 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT) last posted its earnings results 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. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm 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 company posted $1.62 earnings per share. Medtronic’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. Equities analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Insider Buying and Selling at Medtronic

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. TD Cowen decreased their price target on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Mizuho reduced their price objective on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. decreased their target price on Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Argus cut their price target on Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Wells Fargo & Company reduced their price target on Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.21.

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).