Healthcare of Ontario Pension Plan Trust Fund Acquires 21,344 Shares of Medtronic PLC $MDT

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 4.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 530,048 shares of the medical technology company’s stock after acquiring an additional 21,344 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Medtronic were worth $45,929,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. Lodestone Wealth Management LLC acquired a new position in Medtronic during the fourth quarter worth $27,000. Anfield Capital Management LLC increased its stake in Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares during the last quarter. Monetary Solutions Ltd acquired a new stake in Medtronic in the 4th quarter valued at $27,000. Acumen Wealth Advisors LLC bought a new stake in Medtronic during the 4th quarter worth about $29,000. Finally, Imprint Wealth LLC bought a new stake in Medtronic during the 3rd quarter worth about $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of MDT stock opened at $83.12 on Friday. The company has a fifty day moving average price of $80.15 and a two-hundred day moving average price of $87.52. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The stock has a market cap of $106.40 billion, a P/E ratio of 22.28, a P/E/G ratio of 2.23 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. Medtronic’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were issued a dividend of $0.72 per share. The ex-dividend date was Friday, June 26th. 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 yield of 3.5%. Medtronic’s dividend payout ratio is 77.21%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and issued a $88.00 price objective on shares of Medtronic in a report on Thursday, June 4th. Citigroup dropped their target price on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Rothschild & Co Redburn reduced their price target on Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Weiss Ratings cut Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Finally, Evercore set a $105.00 price target on Medtronic in a research note on Monday, July 6th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $98.21.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Medtronic 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).