Boston Partners Decreases Stock Position in Medtronic PLC $MDT

Boston Partners lowered its stake in Medtronic PLC (NYSE:MDT) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,735,883 shares of the medical technology company’s stock after selling 230,071 shares during the period. Boston Partners’ holdings in Medtronic were worth $647,153,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Martingale Asset Management L P increased its holdings in shares of Medtronic by 1.0% in the fourth quarter. Martingale Asset Management L P now owns 39,050 shares of the medical technology company’s stock worth $3,751,000 after buying an additional 385 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in shares of Medtronic by 96.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 454 shares of the medical technology company’s stock worth $44,000 after buying an additional 223 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Medtronic by 3.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,913,417 shares of the medical technology company’s stock worth $856,223,000 after buying an additional 279,235 shares during the period. Van Lanschot Kempen Investment Management N.V. increased its holdings in shares of Medtronic by 2.3% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 359,722 shares of the medical technology company’s stock worth $34,555,000 after buying an additional 8,013 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of Medtronic by 5,724.9% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 134,381 shares of the medical technology company’s stock worth $12,909,000 after buying an additional 132,074 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the topic of several analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a report on Thursday, June 4th. Truist Financial reduced their price target on Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Mizuho reduced their price target on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. The Goldman Sachs Group reduced their price target on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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 that occurred 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 directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $80.11 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average price is $80.85 and its 200-day moving average price is $91.38. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The stock has a market cap of $102.85 billion, a P/E ratio of 21.48, a P/E/G ratio of 2.30 and a beta of 0.58.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the previous year, the firm posted $1.62 EPS. The business’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. Equities research analysts anticipate 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 given a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.6%. Medtronic’s 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).