TSP Capital Management Group LLC Acquires New Position in Medtronic PLC $MDT

TSP Capital Management Group LLC bought a new position in Medtronic PLC (NYSE:MDT) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,700 shares of the medical technology company’s stock, valued at approximately $927,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Medtronic by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after acquiring an additional 1,888,381 shares in the last quarter. State Street Corp grew its holdings in shares of Medtronic by 2.0% during the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after purchasing an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. raised its position in Medtronic by 2.7% in the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after purchasing an additional 1,419,730 shares during the period. Capital Research Global Investors lifted its stake in Medtronic by 12.6% in 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 purchasing an additional 3,880,174 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Medtronic by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock valued at $2,665,832,000 after buying an additional 231,919 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by insiders.

Medtronic Stock Up 1.4%

Shares of NYSE:MDT opened at $79.32 on Thursday. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a market cap of $101.53 billion, a PE ratio of 21.26, a P/E/G ratio of 2.10 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The stock’s 50-day moving average is $79.02 and its 200 day moving average is $89.23.

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 the consensus estimate of $1.54 by $0.01. The business had revenue of $9.81 billion during the quarter, compared to analysts’ expectations 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 business posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a $0.72 dividend. 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. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. Medtronic’s payout ratio is 77.21%.

Analyst Ratings Changes

MDT has been the topic of a number of recent research reports. Rothschild & Co Redburn reduced their price objective on Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Jefferies Financial Group restated a “hold” rating and set a $88.00 target price on shares of Medtronic in a report on Thursday, June 4th. Robert W. Baird decreased their price target on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Needham & Company LLC reiterated a “buy” rating and issued a $101.00 price objective on shares of Medtronic in a research report on Wednesday, June 17th. Finally, Barclays increased their price objective on Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

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).