Medtronic PLC $MDT Shares Acquired by Raiffeisen Bank International AG

Raiffeisen Bank International AG grew its position in Medtronic PLC (NYSE:MDT) by 27.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,991 shares of the medical technology company’s stock after acquiring an additional 11,647 shares during the quarter. Raiffeisen Bank International AG’s holdings in Medtronic were worth $5,219,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Curbstone Financial Management Corp raised its stake in Medtronic by 1.8% in the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after buying an additional 100 shares during the period. 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 stake in Medtronic by 1.7% in the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after buying an additional 101 shares during the period. Baker Tilly Wealth Management LLC raised its stake in Medtronic by 3.3% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $309,000 after buying an additional 102 shares during the period. Finally, Maseco LLP raised its stake in Medtronic by 32.1% in the fourth quarter. Maseco LLP now owns 444 shares of the medical technology company’s stock valued at $43,000 after buying an additional 108 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MDT shares. Truist Financial dropped their price objective on Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. UBS Group dropped their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. BTIG Research upgraded Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Wednesday, June 3rd. Wells Fargo & Company dropped their price objective on Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Finally, Needham & Company LLC dropped their price objective on Medtronic from $120.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Seventeen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Insider Transactions at Medtronic

In related 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 sale, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Medtronic Price Performance

Shares of NYSE MDT opened at $80.28 on Friday. The firm has a market cap of $103.07 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 1.95 and a beta of 0.58. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The business’s 50 day moving average is $80.97 and its 200-day moving average is $91.46.

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, topping analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a dividend of $0.72 per share. 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 yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is currently 76.14%.

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).