284,082 Shares in Medtronic PLC $MDT Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd acquired a new position in shares of Medtronic PLC (NYSE:MDT) in the fourth quarter, HoldingsChannel reports. The fund acquired 284,082 shares of the medical technology company’s stock, valued at approximately $27,289,000.

Other institutional investors have also made changes to their positions in the company. Lodestone Wealth Management LLC acquired a new stake in shares of Medtronic during the fourth quarter worth $27,000. Anfield Capital Management LLC grew its stake in shares of Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares during the period. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic during the fourth quarter worth $29,000. GoalVest Advisory LLC acquired a new stake in shares of Medtronic during the fourth quarter worth $29,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Medtronic during the third quarter worth $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MDT shares. Deutsche Bank Aktiengesellschaft decreased their price objective on Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Wells Fargo & Company decreased their price objective on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Mizuho reduced their target price on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, JPMorgan Chase & Co. reduced their target price on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Performance

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

Medtronic (NYSE:MDT) last posted its earnings results 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 firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend 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 dividend payout ratio is presently 76.14%.

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).