Huber Capital Management LLC Invests $902,000 in Medtronic PLC $MDT

Huber Capital Management LLC bought a new position in Medtronic PLC (NYSE:MDT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,389 shares of the medical technology company’s stock, valued at approximately $902,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Medtronic by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after acquiring an additional 1,888,381 shares during the last quarter. State Street Corp grew its holdings in Medtronic by 2.0% during the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock worth $5,966,780,000 after acquiring an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Medtronic by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after acquiring an additional 1,419,730 shares during the last quarter. Capital Research Global Investors grew its holdings in Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after acquiring an additional 3,880,174 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Medtronic by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after acquiring an additional 231,919 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on MDT shares. Wells Fargo & Company decreased their price objective on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. The Goldman Sachs Group decreased their price objective on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Truist Financial decreased their price objective on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Piper Sandler decreased their price objective on shares of Medtronic from $91.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Finally, Weiss Ratings lowered shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Seventeen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Medtronic Stock Performance

Medtronic stock opened at $80.11 on Friday. 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 company has a market cap of $102.85 billion, a PE ratio of 21.48, a PEG ratio of 2.30 and a beta of 0.58. The company’s 50-day moving average is $80.85 and its two-hundred day moving average is $91.38.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period in the prior year, the company posted $1.62 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders 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%. The ex-dividend date is Friday, June 26th. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is currently 76.14%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

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).