Raiffeisen Bank International AG Has $5.22 Million Position in Medtronic PLC $MDT

Raiffeisen Bank International AG raised its holdings in Medtronic PLC (NYSE:MDT) by 27.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,991 shares of the medical technology company’s stock after purchasing an additional 11,647 shares during the quarter. Raiffeisen Bank International AG’s holdings in Medtronic were worth $5,219,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings 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 holdings in shares of Medtronic by 1.0% in the 3rd quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock valued at $5,800,550,000 after purchasing an additional 625,992 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings 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 holdings 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 holdings 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. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT stock opened at $80.28 on Friday. The stock has a 50-day moving average price of $80.97 and a 200-day moving average price of $91.46. 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 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The firm has a market cap of $103.07 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.95 and a beta of 0.58.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities research analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a $0.72 dividend. The ex-dividend date is Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is 76.14%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company cut their price objective on Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Stifel Nicolaus set a $80.00 price objective on Medtronic in a report on Wednesday, June 3rd. BTIG Research raised Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Wednesday, June 3rd. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 price objective on shares of Medtronic in a report on Thursday, June 4th. Finally, Daiwa Securities Group cut their price objective on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Seventeen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Insider Activity 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 value of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

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).