BTG Pactual Asset Management US LLC Invests $454,000 in Medtronic PLC $MDT

BTG Pactual Asset Management US LLC bought a new position in shares of Medtronic PLC (NYSE:MDT) during the second quarter, Holdings Channel.com reports. The fund bought 5,809 shares of the medical technology company’s stock, valued at approximately $454,000.

Other large investors have also recently bought and sold shares of the company. Monetary Solutions Ltd acquired a new stake in Medtronic in the 4th quarter worth $27,000. Anfield Capital Management LLC increased its holdings in shares of Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares during the period. Acumen Wealth Advisors LLC acquired a new position in shares of Medtronic during the fourth quarter valued at about $29,000. Imprint Wealth LLC acquired a new position in shares of Medtronic during the third quarter valued at about $31,000. Finally, Basepoint Wealth LLC bought a new stake in shares of Medtronic in the fourth quarter valued at about $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Down 0.4%

NYSE MDT opened at $90.82 on Tuesday. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a market capitalization of $116.25 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 2.45 and a beta of 0.55. The stock’s 50 day moving average is $85.81 and its two-hundred day moving average is $85.48. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last issued 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. The business had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.Medtronic’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio is currently 77.21%.

Insider Transactions at Medtronic

In other Medtronic 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 transaction of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This trade represents a 10.11% 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 this link. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Truist Financial lowered their price objective on Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Sanford C. Bernstein cut their target price on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Needham & Company LLC raised their target price on Medtronic from $101.00 to $114.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Finally, Robert W. Baird decreased 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. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.79.

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).