Edgestream Partners L.P. Has $3.31 Million Stock Holdings in Medtronic PLC $MDT

Edgestream Partners L.P. boosted its stake in Medtronic PLC (NYSE:MDT) by 86.1% in the first quarter, Holdings Channel reports. The institutional investor owned 38,234 shares of the medical technology company’s stock after acquiring an additional 17,686 shares during the quarter. Edgestream Partners L.P.’s holdings in Medtronic were worth $3,313,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Medtronic during the 4th quarter valued at $1,653,485,000. WCM Investment Management LLC purchased a new stake in shares of Medtronic during the first quarter worth $965,922,000. Capital Research Global Investors boosted its position in Medtronic by 12.6% during the fourth 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 purchasing an additional 3,880,174 shares during the last quarter. Wellington Management Group LLP grew its stake in Medtronic by 35.3% in the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after purchasing an additional 2,658,981 shares in the last quarter. Finally, Vanguard Group Inc. increased its position 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 purchasing an additional 1,888,381 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MDT shares. Mizuho reduced their price target on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. The Goldman Sachs Group decreased their target price on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. TD Cowen cut their price target on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 10th. UBS Group raised shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $100.00 in a research note on Tuesday. Finally, Stifel Nicolaus set a $80.00 target price on Medtronic in a report on Wednesday, June 3rd. Eighteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.83.

Insider Buying and Selling at Medtronic

In related 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 transaction of $336,963.16. Following the transaction, 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 legal filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

Medtronic Trading Down 0.1%

Shares of NYSE:MDT opened at $85.64 on Friday. 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 stock’s 50-day moving average is $80.94 and its 200-day moving average is $87.07. The company has a market cap of $109.62 billion, a P/E ratio of 22.96, a P/E/G ratio of 2.29 and a beta of 0.56. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33.

Medtronic (NYSE:MDT) last announced 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. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the prior year, the company earned $1.62 EPS. The firm’s revenue for the quarter 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 research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a dividend of $0.72 per share. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is currently 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).