Winthrop Partners WNY LLC Invests $1.22 Million in Medtronic PLC $MDT

Winthrop Partners WNY LLC acquired a new position in shares of Medtronic PLC (NYSE:MDT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,729 shares of the medical technology company’s stock, valued at approximately $1,223,000.

Several other large investors have also modified their holdings of MDT. Norges Bank acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $1,653,485,000. Capital Research Global Investors grew its position in shares of Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after acquiring an additional 3,880,174 shares during the last quarter. Barclays PLC increased its holdings in shares of Medtronic by 104.6% in the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock worth $650,604,000 after acquiring an additional 3,492,192 shares during the period. Schroder Investment Management Group increased its holdings in shares of Medtronic by 78.3% in the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock worth $717,143,000 after acquiring an additional 3,307,211 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Medtronic by 35.3% in the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after acquiring an additional 2,658,981 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MDT. Citigroup decreased their target price on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. JPMorgan Chase & Co. reduced their price objective on Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Robert W. Baird cut their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. UBS Group reduced their price target on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Finally, Daiwa Securities Group decreased their price target on Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.00.

Medtronic Stock Performance

MDT stock opened at $79.37 on Friday. The firm has a 50 day moving average of $80.13 and a two-hundred day moving average of $90.50. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a market capitalization of $101.90 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 2.13 and a beta of 0.58. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

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 14.61% 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. As a group, equities analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is presently 76.14%.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated Monday, June 8th. The stock was 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 $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

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).