199,599 Shares in Medtronic PLC $MDT Acquired by Argent Capital Management LLC

Key Points

• Argent Capital Management acquired 199,599 Medtronic shares worth approximately $17.3 million, while institutional investors collectively own 82.06% of the company.
• Medtronic exceeded quarterly expectations with $1.55 EPS and $9.81 billion in revenue, up 9.9% year over year, and guided to fiscal 2027 EPS of $5.90–$6.00.
• The company raised its quarterly dividend to $0.72 per share, representing a 3.4% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $98.83.

Argent Capital Management LLC purchased a new stake in shares of Medtronic PLC (NYSE:MDT - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 199,599 shares of the medical technology company's stock, valued at approximately $17,295,000.

Several other institutional investors have also recently made changes to their positions in MDT. Lodestone Wealth Management LLC bought a new position in Medtronic in the fourth quarter valued at $27,000. Anfield Capital Management LLC lifted its stake in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock worth $27,000 after purchasing an additional 230 shares during the last quarter. Monetary Solutions Ltd bought a new stake in Medtronic during the fourth quarter worth about $27,000. Acumen Wealth Advisors LLC purchased a new position in shares of Medtronic in the 4th quarter worth about $29,000. Finally, Imprint Wealth LLC purchased a new position in shares of Medtronic in the 3rd quarter worth about $31,000. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $85.64 on Friday. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The firm's 50-day moving average is $80.94 and its 200 day moving average is $87.07. The stock has a market cap of $109.62 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.30 and a beta of 0.56. 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 - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the prior year, the firm posted $1.62 earnings per share. The business's revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal 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 issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, June 26th. This is a positive change from Medtronic's previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.4%. Medtronic's dividend payout ratio is presently 77.21%.

Analyst Ratings Changes

A number of brokerages have commented on MDT. Citigroup reduced their price target on shares of Medtronic from $117.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Jefferies Financial Group restated a "hold" rating and issued a $88.00 price objective on shares of Medtronic in a report on Thursday, June 4th. UBS Group raised shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price objective for the company from $85.00 to $100.00 in a research note on Tuesday. Sanford C. Bernstein reduced their target price on shares of Medtronic from $112.00 to $97.00 and set an "outperform" rating on the stock in a report on Thursday, June 4th. Finally, Leerink Partners decreased their target price on shares of Medtronic from $117.00 to $104.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $98.83.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred on 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 owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is 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).

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