Winthrop Partners WNY LLC Invests $1.22 Million in Medtronic PLC $MDT

Winthrop Partners WNY LLC bought a new position in shares of Medtronic PLC (NYSE:MDT) in the fourth quarter, Holdings Channel reports. The institutional investor bought 12,729 shares of the medical technology company’s stock, valued at approximately $1,223,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership boosted its holdings in Medtronic by 2.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after acquiring an additional 31,314 shares during the last quarter. CSM Advisors LLC raised its holdings in Medtronic by 13.2% during the 3rd quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock worth $27,169,000 after purchasing an additional 33,167 shares during the last quarter. SageView Advisory Group LLC raised its holdings in Medtronic by 164.8% during the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock worth $2,305,000 after purchasing an additional 15,062 shares during the last quarter. Madison Asset Management LLC lifted its position in Medtronic by 15.0% during the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after purchasing an additional 25,527 shares during the period. Finally, Bleakley Financial Group LLC lifted its position in Medtronic by 17.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company’s stock valued at $8,316,000 after purchasing an additional 13,177 shares during the period. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction dated 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 directly owned 37,227 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Medtronic Stock Performance

Shares of Medtronic stock opened at $79.37 on Friday. 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 2.13 and a beta of 0.58. The stock’s 50-day moving average is $80.13 and its 200-day moving average is $90.50. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 13.20% and a return on equity of 14.61%. The company’s revenue 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. Equities analysts predict that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

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

Analysts Set New Price Targets

MDT has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price target on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Daiwa Securities Group lowered their target price on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a report on Friday, February 27th. Sanford C. Bernstein dropped their target price on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Stifel Nicolaus set a $80.00 price target on Medtronic in a research report on Wednesday, June 3rd. Finally, Leerink Partners reduced their price target on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock 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’s stock. According to MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and an average price target of $99.00.

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).