Lecap Asset Management Ltd. Makes New $1.13 Million Investment in Medtronic PLC $MDT

Lecap Asset Management Ltd. bought a new stake in shares of Medtronic PLC (NYSE:MDT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,453 shares of the medical technology company’s stock, valued at approximately $1,131,000.

Several other large investors have also recently made changes to their positions in MDT. Brighton Jones LLC grew its stake in shares of Medtronic by 1,368.0% in 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 raised its stake 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 valued at $380,000 after buying an additional 381 shares during the last quarter. Jump Financial LLC purchased a new position in Medtronic during the second quarter valued at $299,000. Main Street Financial Solutions LLC boosted its holdings 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 worth $1,251,000 after acquiring an additional 3,218 shares in the last quarter. Finally, HUB Investment Partners LLC boosted its holdings in Medtronic by 21.3% in the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock worth $1,676,000 after acquiring an additional 3,376 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.6%

Medtronic stock opened at $91.10 on Friday. 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 one year low of $73.31 and a one year high of $106.33. The stock has a market capitalization of $116.62 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The business’s fifty day moving average is $83.20 and its 200 day moving average is $86.36.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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. 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 period last year, the company earned $1.62 EPS. Medtronic’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were paid a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business’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 transaction of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. The trade was 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 at the SEC website. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MDT shares. JPMorgan Chase & Co. reduced their price target on Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research note on Monday, August 10th. TD Cowen decreased their target price on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 10th. Finally, Sanford C. Bernstein dropped their target price on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.83.

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).