MassMutual Private Wealth & Trust FSB Buys 10,052 Shares of Medtronic PLC $MDT

MassMutual Private Wealth & Trust FSB boosted its position in Medtronic PLC (NYSE:MDT) by 8.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 130,393 shares of the medical technology company’s stock after purchasing an additional 10,052 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Medtronic were worth $10,201,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MDT. Norges Bank acquired a new position in shares of Medtronic during the 4th quarter valued at $1,653,485,000. WCM Investment Management LLC acquired a new stake in shares of Medtronic in the 1st quarter worth about $965,922,000. Capital Research Global Investors raised its holdings in shares of Medtronic by 12.6% in the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after acquiring an additional 3,880,174 shares during the last quarter. Wellington Management Group LLP lifted its position in Medtronic by 35.3% in the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after acquiring an additional 2,658,981 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Medtronic by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after acquiring an additional 1,888,381 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Up 1.5%

MDT opened at $86.67 on Tuesday. 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 stock has a market cap of $110.94 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 2.29 and a beta of 0.56. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company’s 50-day moving average price is $81.10 and its two-hundred day moving average price is $86.93.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share 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 return on equity of 14.51% and a net margin of 13.20%.The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 26th. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is presently 77.21%.

Analyst Ratings Changes

A number of brokerages have commented on MDT. Leerink Partners decreased their price objective on Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Sanford C. Bernstein dropped their target price on Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock 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. Jefferies Financial Group reiterated a “hold” rating and set a $88.00 price target on shares of Medtronic in a report on Thursday, June 4th. Finally, Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.83.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by 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).