22,444 Shares in Medtronic PLC $MDT Purchased by Meadowbrook Advisors Group LLC

Key Points

• Meadowbrook Advisors Group LLC opened a new position in Medtronic during the fourth quarter, buying 22,444 shares valued at about $2.16 million. The stake makes Medtronic 1.2% of the firm’s holdings and its 26th largest position.
• Medtronic’s recent earnings slightly beat expectations, with quarterly EPS of $1.55 versus the $1.54 consensus and revenue of $9.81 billion, up 9.9% year over year. The company also guided FY 2027 EPS to 5.900-6.000.
• The company raised its quarterly dividend to $0.72 per share from $0.71, implying an annualized yield of 3.6%. Meanwhile, analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $99.

Meadowbrook Advisors Group LLC bought a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,444 shares of the medical technology company's stock, valued at approximately $2,156,000. Medtronic accounts for 1.2% of Meadowbrook Advisors Group LLC's holdings, making the stock its 26th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership boosted its position in shares of Medtronic by 2.6% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company's stock worth $117,579,000 after buying an additional 31,314 shares in the last quarter. CSM Advisors LLC increased its holdings in Medtronic by 13.2% during the 3rd quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company's stock valued at $27,169,000 after acquiring an additional 33,167 shares in the last quarter. SageView Advisory Group LLC raised its position in Medtronic by 164.8% during the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company's stock worth $2,305,000 after acquiring an additional 15,062 shares during the last quarter. Madison Asset Management LLC raised its position in Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company's stock worth $18,752,000 after acquiring an additional 25,527 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in Medtronic by 17.8% during the third quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company's stock worth $8,316,000 after acquiring an additional 13,177 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on MDT shares. Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a research report on Wednesday, June 3rd. UBS Group cut their price objective on Medtronic from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, June 4th. Sanford C. Bernstein reduced their target price on Medtronic from $112.00 to $97.00 and set an "outperform" rating on the stock in a research note on Thursday, June 4th. TD Cowen reiterated a "buy" rating and set a $119.00 target price on shares of Medtronic in a report on Thursday, June 4th. Finally, Truist Financial lowered their target price on Medtronic from $95.00 to $86.00 and set a "hold" rating on the stock in a report on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Medtronic has an average rating of "Moderate Buy" and a consensus target price of $99.00.

Medtronic Stock Performance

NYSE:MDT opened at $79.37 on Friday. The firm has a 50 day simple moving average of $80.13 and a 200-day simple moving average of $90.50. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The firm has a market cap of $101.90 billion, a PE ratio of 21.28, a P/E/G ratio of 2.13 and a beta of 0.58. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter last year, the business earned $1.62 earnings per share. Medtronic's revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts expect that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Medtronic's previous quarterly dividend of $0.71. Medtronic's dividend payout ratio is currently 76.14%.

About Medtronic

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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