Ritholtz Wealth Management Has $5.75 Million Stake in Medtronic PLC $MDT

Ritholtz Wealth Management lowered its position in Medtronic PLC (NYSE:MDT) by 10.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,350 shares of the medical technology company’s stock after selling 8,020 shares during the period. Ritholtz Wealth Management’s holdings in Medtronic were worth $5,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Monetary Solutions Ltd bought a new stake in Medtronic during the 4th quarter worth approximately $27,000. Lodestone Wealth Management LLC bought a new position in Medtronic in the 4th quarter valued at $27,000. Anfield Capital Management LLC raised its position in Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in Medtronic in the fourth quarter worth $29,000. Finally, GoalVest Advisory LLC acquired a new position in Medtronic in the fourth quarter worth $29,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were 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 trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $101.00 target price on shares of Medtronic in a research note on Wednesday, June 17th. Argus reduced their price target on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. TD Cowen reissued a “buy” rating and set a $119.00 price objective on shares of Medtronic in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Finally, Robert W. Baird lowered their price objective on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Medtronic Stock Down 0.6%

NYSE MDT opened at $80.16 on Thursday. The stock has a market capitalization of $102.61 billion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.87 and a current ratio of 2.13. The stock has a fifty day moving average of $79.67 and a 200-day moving average of $89.95.

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. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

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

Medtronic 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).