Qsemble Capital Management LP Acquires 27,432 Shares of Medtronic PLC $MDT

Qsemble Capital Management LP lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 507.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,835 shares of the medical technology company’s stock after purchasing an additional 27,432 shares during the quarter. Qsemble Capital Management LP’s holdings in Medtronic were worth $2,569,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. Monetary Solutions Ltd acquired a new stake in Medtronic during the fourth quarter worth approximately $27,000. Anfield Capital Management LLC raised its stake in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. Acumen Wealth Advisors LLC acquired a new position in Medtronic in the fourth quarter valued at about $29,000. Imprint Wealth LLC bought a new position in Medtronic in the 3rd quarter valued at about $31,000. Finally, Basepoint Wealth LLC bought a new position in Medtronic in the fourth quarter valued at approximately $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MDT shares. Mizuho cut their target price on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. BTIG Research reiterated a “buy” rating and issued a $91.00 target price on shares of Medtronic in a research report on Monday, July 13th. 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. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research note on Monday, August 10th. Finally, Leerink Partners cut their price objective on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average target price of $98.83.

Medtronic Stock Down 0.9%

Shares of NYSE:MDT opened at $90.44 on Tuesday. The firm has a market cap of $115.77 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.45 and a beta of 0.55. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The business has a fifty day simple moving average of $83.40 and a 200 day simple moving average of $86.19.

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

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is 77.21%.

Insider Activity at Medtronic

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