MV Capital Management Inc. Takes $1.68 Million Position in Medtronic PLC $MDT

MV Capital Management Inc. acquired a new position in Medtronic PLC (NYSE:MDT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,486 shares of the medical technology company’s stock, valued at approximately $1,680,000.

Several other hedge funds have also recently bought and sold shares of MDT. Brighton Jones LLC increased its stake in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Medtronic by 9.6% during the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after buying an additional 381 shares during the period. Jump Financial LLC acquired a new position in shares of Medtronic during the second quarter worth approximately $299,000. Main Street Financial Solutions LLC grew its holdings in Medtronic by 28.9% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock worth $1,251,000 after buying an additional 3,218 shares in the last quarter. Finally, HUB Investment Partners LLC increased its position in Medtronic by 21.3% in the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after acquiring an additional 3,376 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. The Goldman Sachs Group cut their target price on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Leerink Partners lowered their price target on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Mizuho cut their price objective on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Rothschild & Co Redburn reduced their price objective on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a report on Friday, June 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.00.

Medtronic Stock Performance

NYSE:MDT opened at $79.37 on Friday. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $80.32 and a 200-day moving average of $90.58. The firm 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.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The company had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the previous year, the company posted $1.62 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.6%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is presently 76.14%.

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction on Monday, June 8th. The stock was 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 of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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).