Medtronic PLC $MDT Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its position in shares of Medtronic PLC (NYSE:MDT) by 9.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 82,274 shares of the medical technology company’s stock after purchasing an additional 6,850 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Medtronic were worth $6,436,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MDT. Vanguard Group Inc. raised its position in Medtronic by 1.5% in the fourth 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 during the period. BlackRock Inc. grew its holdings in shares of Medtronic by 0.7% during the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after purchasing an additional 838,220 shares during the period. State Street Corp increased its position in shares of Medtronic by 2.0% during the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock worth $5,966,780,000 after purchasing an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Medtronic by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after purchasing an additional 1,419,730 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in 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 buying an additional 3,880,174 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 1.2%

Shares of MDT stock opened at $93.44 on Friday. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The company has a 50 day moving average price of $84.39 and a 200 day moving average price of $86.06. The stock has a market capitalization of $119.60 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 2.47 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period in the prior year, the business earned $1.62 EPS. The firm’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. Equities research analysts predict that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $88.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Robert W. Baird reduced their price target on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. The Goldman Sachs Group decreased their price objective on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Rothschild & Co Redburn lowered their price objective on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Finally, BTIG Research reiterated a “buy” rating and issued a $91.00 target price on shares of Medtronic in a report on Tuesday. Eighteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $98.83.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic 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 completion of the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

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).