Medtronic PLC $MDT Shares Acquired by TCW Group Inc.

TCW Group Inc. grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 396,995 shares of the medical technology company’s stock after purchasing an additional 6,101 shares during the period. TCW Group Inc.’s holdings in Medtronic were worth $31,057,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after buying an additional 37,265 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after acquiring an additional 381 shares in the last quarter. Jump Financial LLC acquired a new position in Medtronic in the 2nd quarter valued at about $299,000. Main Street Financial Solutions LLC lifted its position in Medtronic by 28.9% during the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock worth $1,251,000 after buying an additional 3,218 shares during the period. Finally, HUB Investment Partners LLC grew its stake in shares of Medtronic by 21.3% during the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after buying an additional 3,376 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of several analyst reports. Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a report on Monday, August 10th. Truist Financial dropped their price target on Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Finally, Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Eighteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.83.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president directly 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 Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

Medtronic Trading Down 0.9%

Shares of Medtronic stock opened at $90.44 on Tuesday. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. 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 market cap of $115.77 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.45 and a beta of 0.55. The company’s fifty day simple moving average is $83.40 and its 200-day simple moving average is $86.19.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter last year, the company earned $1.62 EPS. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts expect that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio 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).