Invesco Ltd. Acquires 27,632 Shares of Medtronic PLC $MDT

Invesco Ltd. increased its holdings in Medtronic PLC (NYSE:MDT) by 0.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,232,293 shares of the medical technology company’s stock after acquiring an additional 27,632 shares during the period. Invesco Ltd.’s holdings in Medtronic were worth $1,559,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lodestone Wealth Management LLC bought a new stake in Medtronic in the fourth quarter worth $27,000. Anfield Capital Management LLC grew its stake in shares of Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Medtronic in the fourth quarter worth about $29,000. GoalVest Advisory LLC purchased a new position in shares of Medtronic in the fourth quarter worth about $29,000. Finally, Acumen Wealth Advisors LLC bought a new stake in shares of Medtronic in the 4th quarter valued at about $29,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 1.6%

NYSE MDT opened at $79.37 on Friday. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The stock has a market capitalization of $101.90 billion, a PE ratio of 21.28, a PEG ratio of 2.10 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The business’s 50-day moving average is $80.32 and its 200 day moving average is $90.58.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.Medtronic’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a $0.72 dividend. This is a boost 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 payout ratio is currently 76.14%.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred 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 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 filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MDT has been the subject of several analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. Stifel Nicolaus set a $80.00 price target on Medtronic in a research note on Wednesday, June 3rd. Leerink Partners lowered their price objective on Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Barclays increased their price objective on Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Finally, TD Cowen reaffirmed a “buy” rating and issued a $119.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

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).