Varma Mutual Pension Insurance Co Increases Stake in Medtronic PLC $MDT

Varma Mutual Pension Insurance Co increased its position in shares of Medtronic PLC (NYSE:MDT) by 7.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 218,151 shares of the medical technology company’s stock after purchasing an additional 14,700 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Medtronic were worth $20,956,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Corundum Trust Company INC purchased a new position in shares of Medtronic during the third quarter valued at $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Medtronic during the fourth quarter valued at $27,000. Valley Wealth Managers Inc. purchased a new position in shares of Medtronic during the third quarter valued at $29,000. Board of the Pension Protection Fund purchased a new position in shares of Medtronic during the fourth quarter valued at $29,000. Finally, GoalVest Advisory LLC purchased a new position in shares of Medtronic during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT stock opened at $80.02 on Monday. Medtronic PLC has a 1-year low of $78.91 and a 1-year high of $106.33. The stock’s 50-day moving average is $88.44 and its 200 day moving average is $94.80. The company has a market cap of $102.74 billion, a P/E ratio of 22.29, a PEG ratio of 1.90 and a beta of 0.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The business had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts predict that Medtronic PLC will post 5.57 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s dividend payout ratio (DPR) is currently 79.11%.

Analyst Ratings Changes

MDT has been the topic of several research reports. Wells Fargo & Company began coverage on Medtronic in a research note on Friday, January 30th. They set an “overweight” rating and a $114.00 price target on the stock. Weiss Ratings downgraded Medtronic from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. dropped their price objective on Medtronic from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Citigroup dropped their price objective on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Fifteen equities research 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.80.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the sale, the executive vice president owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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).