Van Lanschot Kempen Investment Management N.V. Acquires 8,013 Shares of Medtronic PLC $MDT

Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 359,722 shares of the medical technology company’s stock after acquiring an additional 8,013 shares during the quarter. Van Lanschot Kempen Investment Management N.V.’s holdings in Medtronic were worth $34,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. Brighton Jones LLC raised its holdings in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Medtronic by 9.6% in the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after purchasing an additional 381 shares in the last quarter. Jump Financial LLC bought a new position in Medtronic in the second quarter worth $299,000. Main Street Financial Solutions LLC raised 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 purchasing an additional 3,218 shares in the last quarter. Finally, HUB Investment Partners LLC raised 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 purchasing an additional 3,376 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MDT shares. Leerink Partners decreased their price objective on Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. BTIG Research upgraded Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Wednesday, June 3rd. Argus decreased their price objective on Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 6th. Mizuho decreased their price objective on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. Finally, Needham & Company LLC decreased their price objective on Medtronic from $120.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Medtronic Trading Down 0.3%

NYSE MDT opened at $80.11 on Friday. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The stock has a market cap of $102.85 billion, a P/E ratio of 21.48, a P/E/G ratio of 2.30 and a beta of 0.58. The stock’s fifty day moving average price is $80.85 and its 200-day moving average price is $91.38. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last released its earnings results 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 14.61% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the prior year, the firm posted $1.62 earnings per share. 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, equities analysts forecast that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The business 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. 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 dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s payout ratio is currently 76.14%.

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).