Medtronic PLC $MDT Holdings Lifted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its holdings in Medtronic PLC (NYSE:MDT) by 1.5% in the 1st quarter, Holdings Channel reports. The fund owned 7,516,150 shares of the medical technology company’s stock after purchasing an additional 112,976 shares during the period. Dimensional Fund Advisors LP’s holdings in Medtronic were worth $651,230,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Madison Asset Management LLC boosted its holdings in shares of Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after purchasing an additional 25,527 shares during the period. Ticino Wealth acquired a new position in Medtronic in the 4th quarter valued at approximately $2,049,000. First Eagle Investment Management LLC increased its stake in Medtronic by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock valued at $939,009,000 after buying an additional 40,196 shares during the period. KBC Group NV lifted its position in Medtronic by 5.2% in the 4th quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock worth $41,354,000 after buying an additional 21,384 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Medtronic by 12.7% during the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock valued at $75,988,000 after buying an additional 89,111 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on MDT. Rothschild & Co Redburn lowered their price target on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Barclays increased their price objective on Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, April 1st. Citigroup reduced their price objective on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Evercore set a $105.00 target price on Medtronic in a research note on Monday, July 6th. Finally, Stifel Nicolaus set a $80.00 target price on Medtronic in a research report on Wednesday, June 3rd. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.21.

Medtronic Stock Down 0.0%

MDT opened at $83.20 on Monday. The firm has a market cap of $106.50 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The business has a 50 day moving average price of $79.50 and a 200 day moving average price of $87.94. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33.

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. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter last year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Research analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, June 26th. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is 77.21%.

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).