KBC Group NV Has $55.98 Million Holdings in Medtronic PLC $MDT

KBC Group NV boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 50.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 646,039 shares of the medical technology company’s stock after purchasing an additional 215,531 shares during the quarter. KBC Group NV’s holdings in Medtronic were worth $55,979,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MDT. Norges Bank acquired a new position in shares of Medtronic during the fourth quarter valued at about $1,653,485,000. Capital Research Global Investors raised its holdings in Medtronic by 12.6% in the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after acquiring an additional 3,880,174 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Medtronic by 35.3% in 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 acquiring an additional 2,658,981 shares during the period. SG Americas Securities LLC grew its holdings in shares of Medtronic by 2,297.7% during the 4th quarter. SG Americas Securities LLC now owns 2,510,712 shares of the medical technology company’s stock worth $241,179,000 after purchasing an additional 2,406,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its position 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 valued at $12,388,027,000 after purchasing an additional 1,888,381 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on MDT shares. 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. JPMorgan Chase & Co. dropped their price target on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $88.00 price objective on shares of Medtronic in a report on Thursday, June 4th. BTIG Research reissued a “buy” rating and issued a $91.00 target price on shares of Medtronic in a report on Monday, July 13th. Finally, Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.21.

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 shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

Medtronic Stock Up 0.1%

NYSE MDT opened at $83.29 on Tuesday. The stock’s 50 day simple moving average is $79.68 and its 200 day simple moving average is $87.84. 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 one year low of $73.31 and a one year high of $106.33. The firm has a market cap of $106.61 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56.

Medtronic (NYSE:MDT) last announced its 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. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the prior year, the business earned $1.62 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were paid a $0.72 dividend. This is a boost 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%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s payout ratio is presently 77.21%.

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).