MassMutual Private Wealth & Trust FSB Has $10.20 Million Holdings in Medtronic PLC $MDT

MassMutual Private Wealth & Trust FSB grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 8.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,393 shares of the medical technology company’s stock after buying an additional 10,052 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Medtronic were worth $10,201,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Sivia Capital Partners LLC increased its position in Medtronic by 9.6% during the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after buying an additional 381 shares during the last quarter. Jump Financial LLC bought a new stake in Medtronic in the second quarter valued at approximately $299,000. Main Street Financial Solutions LLC raised its stake in Medtronic by 28.9% in the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after buying an additional 3,218 shares during the period. Finally, HUB Investment Partners LLC lifted its position in shares of Medtronic by 21.3% in the second 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 last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Piper Sandler reiterated a “neutral” rating and issued a $85.00 price objective on shares of Medtronic in a report on Tuesday, June 16th. Sanford C. Bernstein cut their target price on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Argus reduced their target price on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 6th. Jefferies Financial Group reiterated a “hold” rating and issued a $88.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Finally, Citigroup lowered their price target on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.83.

Medtronic Stock Performance

Medtronic stock opened at $86.67 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The stock has a market cap of $110.94 billion, a PE ratio of 23.23, a P/E/G ratio of 2.29 and a beta of 0.56. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The business’s 50-day moving average price is $81.10 and its two-hundred day moving average price is $86.93.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion for 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 14.51%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. 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, analysts expect 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 was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a $0.72 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is 77.21%.

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).