Mediolanum International Funds Ltd Cuts Stock Position in Medtronic PLC $MDT

Mediolanum International Funds Ltd lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 53.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,291 shares of the medical technology company’s stock after selling 231,191 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Medtronic were worth $17,087,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ranch Capital Advisors Inc. grew its stake in shares of Medtronic by 3.0% in the first quarter. Ranch Capital Advisors Inc. now owns 20,381 shares of the medical technology company’s stock worth $1,776,000 after acquiring an additional 599 shares in the last quarter. Kesler Norman & Wride LLC raised its position in shares of Medtronic by 1.2% during the 1st quarter. Kesler Norman & Wride LLC now owns 14,442 shares of the medical technology company’s stock worth $1,251,000 after acquiring an additional 165 shares in the last quarter. Zhang Financial LLC raised its position in shares of Medtronic by 26.3% during the 1st quarter. Zhang Financial LLC now owns 44,725 shares of the medical technology company’s stock worth $3,875,000 after acquiring an additional 9,311 shares in the last quarter. Simon Quick Advisors LLC lifted its stake in Medtronic by 6.8% during the first quarter. Simon Quick Advisors LLC now owns 52,012 shares of the medical technology company’s stock worth $4,507,000 after purchasing an additional 3,309 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in Medtronic by 28.1% during the first quarter. Cornerstone Planning Group LLC now owns 938 shares of the medical technology company’s stock worth $81,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $83.20 on Monday. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The stock has a market capitalization of $106.50 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 2.23 and a beta of 0.56. The company has a 50-day simple moving average of $79.50 and a 200-day simple moving average of $87.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The firm 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 business’s revenue was up 9.9% on a year-over-year basis. During the same quarter last 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 predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were issued a $0.72 dividend. The ex-dividend date of this dividend was Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. Medtronic’s dividend payout ratio is presently 77.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MDT shares. Argus lowered their price target on Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 6th. The Goldman Sachs Group cut their price objective on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Barclays upped their target price on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Mizuho dropped their target price on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $101.00 target price on shares of Medtronic in a research report on Wednesday, June 17th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.21.

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).