Madison Asset Management LLC Purchases 48,784 Shares of Medtronic PLC $MDT

Madison Asset Management LLC boosted its position in Medtronic PLC (NYSE:MDT) by 25.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,000 shares of the medical technology company’s stock after buying an additional 48,784 shares during the quarter. Madison Asset Management LLC’s holdings in Medtronic were worth $21,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Norges Bank bought a new stake in shares of Medtronic in the 4th quarter worth approximately $1,653,485,000. WCM Investment Management LLC purchased a new position in Medtronic in the 1st quarter worth $965,922,000. Capital Research Global Investors lifted its stake in Medtronic by 12.6% in 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 purchasing an additional 3,880,174 shares during the last quarter. Wellington Management Group LLP boosted its position in Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after buying an additional 2,658,981 shares during the period. Finally, SG Americas Securities LLC boosted its position in Medtronic by 2,297.7% during the fourth quarter. SG Americas Securities LLC now owns 2,510,712 shares of the medical technology company’s stock valued at $241,179,000 after buying an additional 2,406,000 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Medtronic stock opened at $83.29 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $79.68 and a 200-day moving average of $87.84. The firm has a market cap of $106.61 billion, a P/E ratio of 22.33, a P/E/G ratio of 2.23 and a beta of 0.56. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33.

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, beating analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.Medtronic’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts expect that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.5%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s payout ratio is presently 77.21%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MDT shares. The Goldman Sachs Group decreased their price objective on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Sanford C. Bernstein dropped their target price on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Jefferies Financial Group restated a “hold” rating and set a $88.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Weiss Ratings cut Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $85.00 price objective on shares of Medtronic in a research report on Tuesday, June 16th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and an average target price of $98.21.

Insider Activity 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 transaction of $336,963.16. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

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).