Motley Fool Wealth Management LLC lessened its position in shares of Medtronic PLC (NYSE:MDT – Free Report) by 16.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,432 shares of the medical technology company’s stock after selling 8,360 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Medtronic were worth $4,172,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Medtronic during the fourth quarter valued at about $1,653,485,000. Capital Research Global Investors grew its holdings in Medtronic by 12.6% during 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 purchasing an additional 3,880,174 shares during the period. Barclays PLC grew its holdings in Medtronic by 104.6% during the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after purchasing an additional 3,492,192 shares during the period. Schroder Investment Management Group grew its holdings in Medtronic by 78.3% during the third quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after purchasing an additional 3,307,211 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after purchasing an additional 2,658,981 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.
Key Stories Impacting Medtronic
Here are the key news stories impacting Medtronic this week:
- Positive Sentiment: Healthcare is outperforming as investors rotate away from tech, which supports Medtronic as a defensive name in a stronger sector. As Tech Stocks Slide, The Healthcare Sector Shines. Why Some Experts Say They Like This Defensive Play
- Positive Sentiment: Medtronic won FDA clearance for its updated Nellcor pulse oximetry system, a technology update aimed at improving reliability across diverse patients and care settings. Medtronic gets FDA nod for updated pulse oximetry system
- Positive Sentiment: The company earned CE mark approval for its Stealth AXiS robot platform in ENT surgery, opening the door to broader use in Europe. Medtronic earns CE mark for Stealth AXiS robot platform in ENT surgery
- Positive Sentiment: Medtronic also received FDA clearance for an upgraded Nellcor pulse oximetry system with an intelligent processor, reinforcing momentum in its monitoring portfolio. Medtronic wins FDA clearance for Nellcor pulse oximetry system with intelligent processor
- Positive Sentiment: Analyst commentary has been increasingly constructive, with some writers arguing Medtronic may be one of the better buys in healthcare after its recent results showed solid growth. Why Medtronic Stock May Have Just Become the Best Buy in the Entire Healthcare Sector
- Neutral Sentiment: Medtronic’s EVP Harry Skip Kiil sold 4,189 shares, a routine insider transaction that may modestly weigh on sentiment but does not by itself signal a major change in outlook. Harry Skip Kiil insider transaction
- Neutral Sentiment: MarketWatch noted the stock underperformed some peers despite gains, suggesting investors are still comparing Medtronic’s move against stronger healthcare competitors. Medtronic PLC stock underperforms Tuesday when compared to competitors despite daily gains
Insider Buying and Selling at Medtronic
Analysts Set New Price Targets
Several analysts have issued reports on MDT shares. Evercore set a $106.00 price target on Medtronic and gave the company an “outperform” rating in a report on Thursday, April 9th. Mizuho cut their price target on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. JPMorgan Chase & Co. cut 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. UBS Group cut their price target on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Finally, Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $99.00.
Check Out Our Latest Stock Analysis on MDT
Medtronic Stock Performance
NYSE MDT opened at $81.93 on Wednesday. The firm has a market cap of $105.19 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.96 and a beta of 0.58. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $81.21 and a 200-day moving average price of $91.74. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33.
Medtronic (NYSE:MDT – Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities research analysts predict that Medtronic PLC will post 5.94 EPS for the current fiscal year.
Medtronic Increases Dividend
The firm also recently disclosed 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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s dividend payout ratio is currently 76.14%.
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).
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