Flossbach Von Storch SE Makes New Investment in Medtronic PLC $MDT

Flossbach Von Storch SE acquired a new stake in Medtronic PLC (NYSE:MDT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,089,386 shares of the medical technology company’s stock, valued at approximately $85,223,000. Flossbach Von Storch SE owned 0.09% of Medtronic at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MDT. New England Capital Financial Advisors LLC lifted its holdings in shares of Medtronic by 7.8% during the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock worth $135,000 after purchasing an additional 101 shares during the period. Ipsen Advisor Group LLC increased its holdings in Medtronic by 1.7% in the fourth 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. Quadrant Capital Group LLC raised its position in Medtronic by 0.3% during the 4th quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after purchasing an additional 101 shares during the last quarter. Rossby Financial LCC raised its position in Medtronic by 5.1% during the 4th quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock worth $211,000 after purchasing an additional 107 shares during the last quarter. Finally, Wealthspire Retirement LLC lifted its holdings in Medtronic by 5.0% during the 4th quarter. Wealthspire Retirement LLC now owns 2,410 shares of the medical technology company’s stock worth $232,000 after buying an additional 114 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

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 value of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on MDT shares. Rothschild & Co Redburn reduced their target price on Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft lowered their price target 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. Wells Fargo & Company dropped their price target on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $101.00 price objective on shares of Medtronic in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus price target of $98.83.

Medtronic Price Performance

Shares of NYSE:MDT opened at $93.44 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The stock’s 50 day moving average is $84.39 and its 200-day moving average is $86.06. The firm has a market capitalization of $119.60 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 2.47 and a beta of 0.55.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion during 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 firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous 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 forecast that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s payout ratio is presently 77.21%.

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).