Medtronic PLC $MDT Stock Holdings Lifted by Eventide Asset Management LLC

Eventide Asset Management LLC raised its stake in Medtronic PLC (NYSE:MDT) by 107.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 112,264 shares of the medical technology company’s stock after acquiring an additional 58,023 shares during the period. Eventide Asset Management LLC’s holdings in Medtronic were worth $10,828,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC acquired a new stake in Medtronic during the 4th quarter valued at $27,000. Anfield Capital Management LLC raised its stake in Medtronic by 410.7% during the 4th 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 during the period. Board of the Pension Protection Fund acquired a new stake in Medtronic during the 4th quarter valued at $29,000. GoalVest Advisory LLC acquired a new stake in Medtronic during the 4th quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in Medtronic during the 4th quarter valued at $29,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings downgraded shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Citigroup cut their target price on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group cut their target price on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $99.00.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Medtronic Trading Down 0.1%

Shares of NYSE MDT opened at $80.11 on Monday. The stock has a market cap of $102.85 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.30 and a beta of 0.58. The business has a 50 day simple moving average of $80.85 and a 200 day simple moving average of $91.29. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating the consensus estimate 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 14.61% and a net margin of 13.20%.The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be issued a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, June 26th. Medtronic’s dividend payout ratio is currently 76.14%.

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).