Van Lanschot Kempen Investment Management N.V. Grows Stake in Medtronic PLC $MDT

Van Lanschot Kempen Investment Management N.V. raised its stake in Medtronic PLC (NYSE:MDT) by 2.3% during the fourth quarter, HoldingsChannel reports. The fund owned 359,722 shares of the medical technology company’s stock after buying an additional 8,013 shares during the period. Van Lanschot Kempen Investment Management N.V.’s holdings in Medtronic were worth $34,555,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Lodestone Wealth Management LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at $27,000. Anfield Capital Management LLC boosted its position in shares of Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Medtronic during the fourth quarter valued at $29,000. GoalVest Advisory LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at $29,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Medtronic during the third quarter valued at $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction dated 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Down 0.3%

MDT stock opened at $80.11 on Friday. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The business’s 50-day moving average is $80.85 and its two-hundred day moving average is $91.38. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The company has a market cap of $102.85 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 2.30 and a beta of 0.58.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. Medtronic’s revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a $0.72 dividend. 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 yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s dividend payout ratio is currently 76.14%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Stifel Nicolaus set a $80.00 price objective on Medtronic in a research report on Wednesday, June 3rd. TD Cowen reaffirmed a “buy” rating and set a $119.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. 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 report on Wednesday, June 3rd. JPMorgan Chase & Co. dropped their price objective on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Finally, UBS Group dropped their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $99.00.

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).