Vontobel Holding Ltd. Boosts Stake in Medtronic PLC $MDT

Vontobel Holding Ltd. grew its stake in shares of Medtronic PLC (NYSE:MDT) by 111.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 987,049 shares of the medical technology company’s stock after buying an additional 520,768 shares during the period. Vontobel Holding Ltd.’s holdings in Medtronic were worth $94,816,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Curbstone Financial Management Corp boosted its holdings in shares of Medtronic by 1.8% in the 4th quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after acquiring an additional 100 shares during the last quarter. New England Capital Financial Advisors LLC boosted its holdings in shares of Medtronic by 7.8% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after acquiring an additional 101 shares during the last quarter. Ipsen Advisor Group LLC boosted its holdings in shares of Medtronic by 1.7% in the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after acquiring an additional 101 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Medtronic by 0.3% in the 4th quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock valued at $3,120,000 after acquiring an additional 101 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC boosted its holdings in shares of Medtronic by 3.3% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $309,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE MDT opened at $80.11 on Friday. The company’s fifty day moving average price is $80.85 and its 200 day moving average price is $91.38. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a market capitalization of $102.85 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.30 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period in the prior year, the firm posted $1.62 earnings per share. The firm’s quarterly 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. On average, research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s payout ratio is currently 76.14%.

Analyst Ratings Changes

MDT has been the topic of several recent research reports. Evercore set a $106.00 price objective on shares of Medtronic and gave the company an “outperform” rating in a report on Thursday, April 9th. Argus dropped their price objective on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Weiss Ratings downgraded shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Rothschild & Co Redburn dropped their price objective 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. Finally, Wells Fargo & Company dropped their price objective on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Seventeen investment 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, Medtronic 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 stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company 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).