State of Wisconsin Investment Board Lowers Position in Medtronic PLC $MDT

State of Wisconsin Investment Board cut its stake in Medtronic PLC (NYSE:MDT) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 673,986 shares of the medical technology company’s stock after selling 32,252 shares during the quarter. State of Wisconsin Investment Board’s holdings in Medtronic were worth $64,743,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Artisan Partners Limited Partnership increased its stake in shares of Medtronic by 2.6% during the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after purchasing an additional 31,314 shares in the last quarter. CSM Advisors LLC increased its stake in shares of Medtronic by 13.2% during the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after purchasing an additional 33,167 shares in the last quarter. SageView Advisory Group LLC increased its stake in shares of Medtronic by 164.8% during the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after purchasing an additional 15,062 shares in the last quarter. Madison Asset Management LLC increased its stake in shares of Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after purchasing an additional 25,527 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its stake in shares of Medtronic by 17.8% during the third 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 in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’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 sale, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $81.36 on Wednesday. The company has a market capitalization of $104.45 billion, a P/E ratio of 21.81, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58. 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 firm has a 50 day moving average of $80.62 and a 200 day moving average of $90.95. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33.

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, beating the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities research analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be issued a $0.72 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, June 26th. Medtronic’s dividend payout ratio is 76.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Mizuho decreased their target price on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. UBS Group decreased their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. TD Cowen reissued a “buy” rating and set a $119.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Citigroup reduced their price target on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 price target on shares of Medtronic 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

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).