Boston Partners Grows Position in Medtronic PLC $MDT

Boston Partners grew its stake in Medtronic PLC (NYSE:MDT) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,940,682 shares of the medical technology company’s stock after buying an additional 28,627 shares during the period. Boston Partners owned 0.54% of Medtronic worth $605,688,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. 1248 Management LLC purchased a new stake in Medtronic during the 1st quarter valued at about $26,000. Twin Tree Management LP acquired a new stake in shares of Medtronic during the first quarter worth about $29,000. Activest Wealth Management boosted its position in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the last quarter. Hughes Financial Services LLC acquired a new position in Medtronic in the 1st quarter worth approximately $32,000. Finally, Investment Management Corp VA ADV raised its position in Medtronic by 144.2% during the 1st quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock worth $36,000 after buying an additional 238 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Argus upped their target price on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $111.00 target price on shares of Medtronic in a report on Friday, October 10th. Finally, UBS Group upped their price objective on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Medtronic Trading Up 0.5%

Shares of NYSE:MDT opened at $92.69 on Tuesday. The business’s 50 day moving average price is $94.20 and its 200-day moving average price is $90.11. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The firm has a market capitalization of $118.89 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, September 26th. Medtronic’s payout ratio is presently 78.24%.

Insider Activity at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.26% of the stock is currently owned by insiders.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.