5,809 Shares in Medtronic PLC $MDT Bought by BTG Pactual Asset Management US LLC

BTG Pactual Asset Management US LLC acquired a new stake in shares of Medtronic PLC (NYSE:MDT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,809 shares of the medical technology company’s stock, valued at approximately $454,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Anfield Capital Management LLC raised its stake in shares of Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares in the last quarter. Monetary Solutions Ltd acquired a new stake in shares of Medtronic during the 4th quarter valued at about $27,000. Acumen Wealth Advisors LLC bought a new stake in shares of Medtronic in the 4th quarter valued at approximately $29,000. IAG Wealth Partners LLC bought a new stake in shares of Medtronic in the 2nd quarter valued at approximately $30,000. Finally, Imprint Wealth LLC acquired a new position in Medtronic in the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 0.4%

Shares of MDT stock opened at $90.82 on Tuesday. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a market cap of $116.25 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $85.81 and its two-hundred day moving average is $85.48.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. Medtronic’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.2%. Medtronic’s payout ratio is currently 77.21%.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research note on Monday, August 10th. UBS Group upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $100.00 in a report on Tuesday, July 28th. TD Cowen lifted their price objective on shares of Medtronic from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. Finally, Leerink Partners lowered their target price on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.79.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by corporate insiders.

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).