Aviva PLC Has $100.89 Million Stake in Medtronic PLC $MDT

Aviva PLC boosted its stake in Medtronic PLC (NYSE:MDT) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,050,282 shares of the medical technology company’s stock after buying an additional 58,755 shares during the quarter. Aviva PLC’s holdings in Medtronic were worth $100,890,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Artisan Partners Limited Partnership boosted its stake in Medtronic by 2.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after purchasing an additional 31,314 shares in the last quarter. CSM Advisors LLC boosted its stake in Medtronic by 13.2% in the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock worth $27,169,000 after purchasing an additional 33,167 shares in the last quarter. SageView Advisory Group LLC boosted its stake in Medtronic by 164.8% in the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock worth $2,305,000 after purchasing an additional 15,062 shares in the last quarter. Madison Asset Management LLC boosted its stake in Medtronic by 15.0% in the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after purchasing an additional 25,527 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in Medtronic by 17.8% in the third quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company’s stock worth $8,316,000 after purchasing an additional 13,177 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of a number of recent analyst reports. Citigroup reduced their price objective on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. UBS Group reduced their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Stifel Nicolaus set a $80.00 price objective on Medtronic in a research note on Wednesday, June 3rd. BTIG Research raised Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Wednesday, June 3rd. Finally, Evercore set a $106.00 price objective on Medtronic and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Seventeen equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Medtronic Trading Up 0.0%

Shares of MDT opened at $80.28 on Friday. 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 PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The firm has a market capitalization of $103.07 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.95 and a beta of 0.58. The stock’s fifty day simple moving average is $80.97 and its 200-day simple moving average is $91.46.

Medtronic (NYSE:MDT) last issued its quarterly 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. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the prior year, the firm posted $1.62 earnings per share. The firm’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, research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

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

Insider Activity

In other 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 owned 37,227 shares of the company’s stock, 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 SEC, which is available through this link. 0.26% of the stock is owned by company insiders.

Medtronic Company 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).