419,352 Shares in Medtronic PLC $MDT Purchased by SEB Asset Management AB

SEB Asset Management AB purchased a new position in Medtronic PLC (NYSE:MDT) during the 1st quarter, HoldingsChannel reports. The firm purchased 419,352 shares of the medical technology company’s stock, valued at approximately $36,337,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC grew its position in Medtronic by 9.6% in the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after buying an additional 381 shares during the last quarter. Jump Financial LLC acquired a new position in Medtronic in the second quarter worth approximately $299,000. Main Street Financial Solutions LLC grew its position in Medtronic by 28.9% in the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock worth $1,251,000 after buying an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC increased its holdings in shares of Medtronic by 21.3% in the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after buying an additional 3,376 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 0.0%

Medtronic stock opened at $83.20 on Monday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The firm has a market capitalization of $106.50 billion, a price-to-earnings ratio of 22.30, a P/E/G ratio of 2.23 and a beta of 0.56. The company has a 50 day moving average price of $79.50 and a 200 day moving average price of $87.94.

Medtronic (NYSE:MDT) last announced its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 13.20% and a return on equity of 14.51%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Research analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

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

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MDT shares. UBS Group cut their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $101.00 target price on shares of Medtronic in a research report on Wednesday, June 17th. Argus reduced their target price on Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $88.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.21.

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).