TMB Capital Partners LLC Takes Position in Medtronic PLC $MDT

TMB Capital Partners LLC purchased a new position in Medtronic PLC (NYSE:MDT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,588 shares of the medical technology company’s stock, valued at approximately $1,690,000.

A number of other large investors have also added to or reduced their stakes in MDT. Vanguard Group Inc. increased its stake in shares of Medtronic by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after purchasing an additional 1,888,381 shares during the last quarter. State Street Corp lifted its stake in Medtronic by 2.0% in the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after purchasing an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. lifted 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 valued at $5,150,420,000 after buying an additional 1,419,730 shares during the last quarter. Capital Research Global Investors lifted 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 last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Medtronic by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock valued at $2,665,832,000 after buying an additional 231,919 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated 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 represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Up 1.6%

MDT stock opened at $79.37 on Friday. The company’s 50 day moving average is $80.32 and its 200 day moving average is $90.58. The stock has a market cap of $101.90 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.10 and a beta of 0.58. 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 PLC has a 1-year low of $73.31 and a 1-year high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly 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. The business had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts predict that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.6%. This is an increase 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 presently 76.14%.

Analyst Ratings Changes

A number of research firms have recently commented on MDT. The Goldman Sachs Group cut their price target on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Piper Sandler reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Medtronic in a research note on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $88.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Finally, Rothschild & Co Redburn reduced their price target 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. Seventeen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

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).