Pathway Financial Advisers LLC Reduces Holdings in Medtronic PLC $MDT

Pathway Financial Advisers LLC lowered its holdings in Medtronic PLC (NYSE:MDT) by 48.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 19,748 shares of the medical technology company’s stock after selling 18,843 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Medtronic were worth $1,711,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Medtronic by 1.5% in 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 lifted its holdings in shares of Medtronic by 2.0% in 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. boosted its stake in shares of Medtronic by 2.7% in the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock valued at $5,150,420,000 after purchasing an additional 1,419,730 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of 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 during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Medtronic by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after buying an additional 231,919 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on MDT shares. Evercore set a $106.00 price objective on shares of Medtronic and gave the company an “outperform” rating in a research report on Thursday, April 9th. Jefferies Financial Group reissued a “hold” rating and issued a $88.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Barclays upped their price objective on Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Truist Financial decreased their target price on Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Finally, Robert W. Baird decreased their target price on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Several articles highlighted a bullish thesis on Medtronic, citing its attractive forward valuation and positioning as a long-term holding for income- and value-focused investors. Is Medtronic plc (MDT) A Good Stock To Buy Now?
• Positive Sentiment: Medtronic recently received FDA 510(k) clearance for its Nellcor pulse oximetry system with the new Nell-EQ intelligent processor, which could support sentiment around innovation and future product competitiveness. Here is Why Medtronic (MDT) is One of the Best Long Term Stocks to Buy According to Hedge Funds
• Positive Sentiment: Hedge-fund-focused commentary described MDT as one of the better long-term healthcare stocks, reinforcing investor confidence in the company’s defensive profile and steady earnings power. Here is Why Medtronic (MDT) is One of the Best Long Term Stocks to Buy According to Hedge Funds
• Neutral Sentiment: One article compared Medtronic with Globus Medical and concluded Globus may have more upside because of stronger growth and innovation, which could cap enthusiasm for MDT relative to peers. GMED vs. MDT: Which Medical Stock Has More Upside Potential?
• Neutral Sentiment: A broader commentary said Medtronic is “coming back” but is still not yet a high-conviction growth story, suggesting improvement without a major near-term re-rating. Medtronic: Coming Back, But Not Yet Ready For Greatness

Medtronic Price Performance

MDT stock opened at $80.99 on Tuesday. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The company’s fifty day moving average price is $79.30 and its 200-day moving average price is $89.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The company has a market capitalization of $103.68 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 2.17 and a beta of 0.58.

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, beating the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. Medtronic’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. Medtronic’s dividend payout ratio (DPR) is 77.21%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic 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 of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

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).