Mediolanum International Funds Ltd Cuts Holdings in Medtronic PLC $MDT

Mediolanum International Funds Ltd lowered its holdings in Medtronic PLC (NYSE:MDT) by 53.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 199,291 shares of the medical technology company’s stock after selling 231,191 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Medtronic were worth $17,087,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Medtronic in the fourth quarter valued at $1,653,485,000. Capital Research Global Investors boosted its position 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 worth $3,321,101,000 after buying an additional 3,880,174 shares in the last quarter. Wellington Management Group LLP boosted 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 buying an additional 2,658,981 shares in the last quarter. SG Americas Securities LLC grew its stake in Medtronic by 2,297.7% in the 4th quarter. SG Americas Securities LLC now owns 2,510,712 shares of the medical technology company’s stock valued at $241,179,000 after acquiring an additional 2,406,000 shares during the last quarter. Finally, Vanguard Group Inc. grew 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 valued at $12,388,027,000 after acquiring an additional 1,888,381 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research reports. Jefferies Financial Group restated a “hold” rating and set a $88.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Argus lowered their price target on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Leerink Partners dropped their price objective on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, TD Cowen dropped their price target on Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.21.

Medtronic Price Performance

Medtronic stock opened at $83.20 on Monday. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The stock has a market capitalization of $106.50 billion, a P/E ratio of 22.30, a P/E/G ratio of 2.23 and a beta of 0.56. The firm’s 50-day moving average is $79.50 and its two-hundred day moving average is $87.94. 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 (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 analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts predict that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company 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 represents a $2.88 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is presently 77.21%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’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 completion of the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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).