MML Investors Services LLC Purchases 42,584 Shares of Medtronic PLC $MDT

MML Investors Services LLC raised its position in Medtronic PLC (NYSE:MDT) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 381,184 shares of the medical technology company’s stock after buying an additional 42,584 shares during the quarter. MML Investors Services LLC’s holdings in Medtronic were worth $36,617,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Medtronic by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares in the last quarter. State Street Corp boosted its stake in shares of Medtronic by 2.0% in the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after purchasing an additional 1,199,621 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Medtronic by 2.7% in the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock valued at $5,150,420,000 after purchasing an additional 1,419,730 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Medtronic by 12.6% in the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after purchasing an additional 3,880,174 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Medtronic by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock valued at $2,665,832,000 after purchasing an additional 231,919 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird reduced their price target on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Needham & Company LLC reduced their price target on shares of Medtronic from $120.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Barclays raised their price target on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Finally, Evercore set a $106.00 price target on shares of Medtronic and gave the company an “outperform” rating in a research note on Thursday, April 9th. Seventeen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $99.00.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business’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 value of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Up 0.2%

NYSE:MDT opened at $80.37 on Tuesday. The firm’s 50 day simple moving average is $80.73 and its 200 day simple moving average is $91.12. 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 PLC has a one year low of $73.31 and a one year high of $106.33. 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 (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $9.62 billion. During the same period last year, the company earned $1.62 EPS. The firm’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. On average, research 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 given a $0.72 dividend. 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 dividend on an annualized basis and a dividend yield of 3.6%. Medtronic’s dividend payout ratio is presently 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).