CGN Advisors LLC Has $2.96 Million Holdings in Medtronic PLC $MDT

CGN Advisors LLC increased its holdings in Medtronic PLC (NYSE:MDT) by 25.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,825 shares of the medical technology company’s stock after purchasing an additional 7,564 shares during the period. CGN Advisors LLC’s holdings in Medtronic were worth $2,959,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Medtronic Trading Down 0.6%

Medtronic stock opened at $86.16 on Wednesday. The business has a 50 day moving average price of $81.27 and a two-hundred day moving average price of $86.85. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The stock has a market cap of $110.29 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 2.32 and a beta of 0.55. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.Medtronic’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were issued a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.3%. Medtronic’s payout ratio is presently 77.21%.

Analysts Set New Price Targets

A number of analysts have issued reports on MDT shares. Evercore set a $105.00 target price on Medtronic in a report on Monday, July 6th. Stifel Nicolaus set a $80.00 price target on Medtronic in a report on Wednesday, June 3rd. Truist Financial reduced their price objective on Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. TD Cowen lowered their price objective on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.83.

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).