TSP Capital Management Group LLC Acquires Shares of 10,700 Medtronic PLC $MDT

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

Several other institutional investors have also recently made changes to their positions in the company. Lodestone Wealth Management LLC bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $27,000. Anfield Capital Management LLC boosted its holdings in shares of Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares in the last quarter. Monetary Solutions Ltd bought a new stake in shares of Medtronic during the 4th quarter valued at $27,000. Board of the Pension Protection Fund purchased a new stake in shares of Medtronic in the 4th quarter worth about $29,000. Finally, GoalVest Advisory LLC purchased a new stake in shares of Medtronic in the 4th quarter worth about $29,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MDT shares. Robert W. Baird lowered their price target on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Argus decreased their target price on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, April 6th. TD Cowen reiterated a “buy” rating and set a $119.00 target price on shares of Medtronic in a report on Thursday, June 4th. Sanford C. Bernstein cut their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $101.00 price objective 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.00.

Medtronic Stock Up 1.4%

MDT stock opened at $79.32 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The stock has a market capitalization of $101.53 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.10 and a beta of 0.56. The business has a fifty day moving average price of $79.02 and a 200-day moving average price of $89.23.

Medtronic (NYSE:MDT) last issued its earnings results 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 business 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%.Medtronic’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed 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 represents a $2.88 dividend on an annualized basis and a yield of 3.6%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. Medtronic’s payout ratio is currently 77.21%.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction that occurred 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 approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.

About Medtronic

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).