Te Ahumairangi Investment Management Ltd Has $6.62 Million Position in Medtronic PLC $MDT

Te Ahumairangi Investment Management Ltd boosted its stake in Medtronic PLC (NYSE:MDT) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,883 shares of the medical technology company’s stock after purchasing an additional 7,012 shares during the period. Medtronic comprises about 1.2% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 24th largest holding. Te Ahumairangi Investment Management Ltd’s holdings in Medtronic were worth $6,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Curbstone Financial Management Corp lifted its stake 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 purchasing an additional 100 shares during the period. New England Capital Financial Advisors LLC lifted its stake 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 purchasing an additional 101 shares during the period. Ipsen Advisor Group LLC lifted its stake 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 purchasing an additional 101 shares during the period. Baker Tilly Wealth Management LLC lifted its stake 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 purchasing an additional 102 shares during the period. Finally, Maseco LLP lifted its stake in shares of Medtronic by 32.1% in the 4th quarter. Maseco LLP now owns 444 shares of the medical technology company’s stock valued at $43,000 after purchasing an additional 108 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MDT. BTIG Research raised Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Wednesday, June 3rd. Barclays boosted their price objective on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. The Goldman Sachs Group decreased their price objective on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Finally, Wells Fargo & Company decreased their price objective on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Seventeen 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Medtronic Trading Up 0.0%

NYSE MDT opened at $80.28 on Friday. The firm has a market cap of $103.07 billion, a P/E ratio of 21.52, a P/E/G ratio of 1.95 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 stock’s 50-day moving average is $80.97 and its 200-day moving average is $91.46. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion for 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 revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

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

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% 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).