Meadowbrook Advisors Group LLC Invests $2.16 Million in Medtronic PLC $MDT

Meadowbrook Advisors Group LLC acquired a new position in shares of Medtronic PLC (NYSE:MDT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 22,444 shares of the medical technology company’s stock, valued at approximately $2,156,000. Medtronic accounts for about 1.2% of Meadowbrook Advisors Group LLC’s portfolio, making the stock its 26th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Medtronic during the 4th quarter worth $1,653,485,000. Capital Research Global Investors grew its stake in Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after buying an additional 3,880,174 shares during the period. Barclays PLC increased its position in shares of Medtronic by 104.6% in the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock worth $650,604,000 after acquiring an additional 3,492,192 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Medtronic by 78.3% during the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after acquiring an additional 3,307,211 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Medtronic by 35.3% during the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after purchasing an additional 2,658,981 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. 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. Mizuho decreased their target price on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Robert W. Baird lowered their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Finally, Barclays upped their price target on Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, April 1st. Seventeen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Medtronic Stock Up 0.0%

Shares of Medtronic stock opened at $79.37 on Friday. The business has a 50-day moving average of $80.13 and a 200-day moving average of $90.50. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The company has a market capitalization of $101.90 billion, a PE ratio of 21.28, a P/E/G ratio of 2.13 and a beta of 0.58. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.94 EPS for the current fiscal 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 $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is currently 76.14%.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently 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).