Citizens Financial Group Inc. RI Has $6.44 Million Position in Medtronic PLC $MDT

Citizens Financial Group Inc. RI boosted its holdings in Medtronic PLC (NYSE:MDT) by 9.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,274 shares of the medical technology company’s stock after purchasing an additional 6,850 shares during the period. Citizens Financial Group Inc. RI’s holdings in Medtronic were worth $6,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Madison Asset Management LLC raised its stake in Medtronic by 15.0% during the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after buying an additional 25,527 shares during the period. First Eagle Investment Management LLC raised its holdings in shares of Medtronic by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock valued at $939,009,000 after purchasing an additional 40,196 shares during the last quarter. Gradient Investments LLC lifted its position in shares of Medtronic by 3.9% during the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock worth $38,842,000 after buying an additional 18,509 shares in the last quarter. Czech National Bank lifted its holdings in Medtronic by 4.7% during the second quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock worth $28,589,000 after acquiring an additional 16,292 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of Medtronic by 12.7% in the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock worth $75,988,000 after buying an additional 89,111 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

NYSE MDT opened at $93.44 on Friday. The firm’s 50 day moving average price is $84.39 and its 200-day moving average price is $86.06. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. 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 cap of $119.60 billion, a PE ratio of 25.05, a P/E/G ratio of 2.47 and a beta of 0.55.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be paid a $0.72 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is 77.21%.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Medtronic in a report on Tuesday. Leerink Partners lowered their price objective on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Truist Financial dropped 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. Finally, Wells Fargo & Company cut their target price on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.83.

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction on Monday, June 8th. The shares were 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 $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

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).