Lecap Asset Management Ltd. Invests $1.13 Million in Medtronic PLC $MDT

Lecap Asset Management Ltd. purchased a new position in Medtronic PLC (NYSE:MDT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,453 shares of the medical technology company’s stock, valued at approximately $1,131,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC increased its stake in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after buying an additional 37,265 shares during the period. Sivia Capital Partners LLC grew its holdings in Medtronic by 9.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after acquiring an additional 381 shares during the last quarter. Jump Financial LLC bought a new stake in Medtronic in the 2nd quarter worth $299,000. Main Street Financial Solutions LLC increased its position in shares of Medtronic by 28.9% in the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after acquiring an additional 3,218 shares during the period. Finally, HUB Investment Partners LLC increased its position in shares of Medtronic by 21.3% in the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after acquiring an additional 3,376 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MDT shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Robert W. Baird lowered their price target on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Mizuho cut their price objective on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Finally, Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Eighteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.83.

Medtronic Price Performance

MDT stock opened at $91.10 on Friday. 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 firm has a 50-day moving average of $83.20 and a 200 day moving average of $86.36. The company has a market cap of $116.62 billion, a P/E ratio of 24.42, a PEG ratio of 2.45 and a beta of 0.55.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating 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 business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the previous year, the firm posted $1.62 EPS. The business’s revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a dividend of $0.72 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, June 26th. Medtronic’s dividend 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).