Clare Market Investments LLC Purchases Shares of 13,827 Medtronic PLC $MDT

Clare Market Investments LLC bought a new position in shares of Medtronic PLC (NYSE:MDT) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 13,827 shares of the medical technology company’s stock, valued at approximately $1,198,000.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Medtronic by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after buying an additional 1,888,381 shares during the period. State Street Corp increased its stake in shares of Medtronic by 2.0% during the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock worth $5,966,780,000 after purchasing an additional 1,199,621 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Medtronic by 2.7% in the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after buying an additional 1,419,730 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Medtronic by 12.6% in the fourth 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 acquiring an additional 3,880,174 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Medtronic by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after purchasing an additional 231,919 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of NYSE MDT opened at $85.51 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a market cap of $109.45 billion, a PE ratio of 22.96, a P/E/G ratio of 2.23 and a beta of 0.56. The stock has a fifty day moving average price of $79.04 and a 200 day moving average price of $89.00.

Medtronic (NYSE:MDT) last issued 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. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.94 EPS for the current 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 paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is currently 77.21%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MDT. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Leerink Partners cut their price objective on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. BTIG Research raised shares of Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Wednesday, June 3rd. Barclays upped their price objective on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Finally, Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a report on Wednesday, June 3rd. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.96.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction 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 sale, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

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).