TCW Group Inc. Buys 6,101 Shares of Medtronic PLC $MDT

TCW Group Inc. boosted its position in Medtronic PLC (NYSE:MDT) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 396,995 shares of the medical technology company’s stock after purchasing an additional 6,101 shares during the quarter. TCW Group Inc.’s holdings in Medtronic were worth $31,057,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New England Capital Financial Advisors LLC raised its stake in Medtronic by 7.8% in the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after buying an additional 101 shares during the period. Ipsen Advisor Group LLC raised its position in Medtronic by 1.7% during 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 in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Medtronic by 0.3% in the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after acquiring an additional 101 shares during the last quarter. Rossby Financial LCC boosted its holdings in shares of Medtronic by 5.1% during the 4th quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock valued at $211,000 after acquiring an additional 107 shares in the last quarter. Finally, Wealthspire Retirement LLC grew 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 acquiring an additional 114 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $90.44 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 business has a 50-day simple moving average of $83.40 and a two-hundred day simple moving average of $86.19. The stock has a market cap of $115.77 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.45 and a beta of 0.55. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The firm had revenue of $9.81 billion during 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 business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, analysts expect that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.2%. Medtronic’s dividend payout ratio is currently 77.21%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Stifel Nicolaus set a $80.00 target price on Medtronic in a research note on Wednesday, June 3rd. The Goldman Sachs Group reduced their price objective on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Jefferies Financial Group reiterated a “hold” rating and set a $88.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Finally, TD Cowen cut their target price on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Eighteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $98.83.

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).