41,914 Shares in Medtronic PLC $MDT Acquired by ASO GROUP Ltd

ASO GROUP Ltd acquired a new position in Medtronic PLC (NYSE:MDT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 41,914 shares of the medical technology company's stock, valued at approximately $4,026,000. Medtronic accounts for 1.6% of ASO GROUP Ltd's investment portfolio, making the stock its 10th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Medtronic by 1.5% during 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 buying an additional 1,888,381 shares during the period. State Street Corp boosted its stake in shares of Medtronic by 1.0% during the 3rd quarter. State Street Corp now owns 60,460,537 shares of the medical technology company's stock valued at $5,800,550,000 after buying an additional 625,992 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Medtronic by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company's stock valued at $5,150,420,000 after buying an additional 1,419,730 shares during the period. Capital Research Global Investors boosted its stake in shares of Medtronic by 12.6% during the 4th 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 buying an additional 3,880,174 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Medtronic by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company's stock valued at $2,665,832,000 after buying an additional 231,919 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MDT. Needham & Company LLC decreased their target price on shares of Medtronic from $120.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, June 3rd. Evercore set a $106.00 target price on shares of Medtronic and gave the company an "outperform" rating in a research note on Thursday, April 9th. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Truist Financial reduced their price objective on shares of Medtronic from $95.00 to $86.00 and set a "hold" rating for the company in a research note on Thursday, June 4th. Finally, Argus reduced their price objective on shares of Medtronic from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.00.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business's stock in a transaction dated 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 approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company's stock.

Medtronic Stock Performance

NYSE:MDT opened at $80.28 on Friday. The firm's 50-day moving average is $80.97 and its 200-day moving average is $91.46. 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 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The company has a market cap of $103.07 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.95 and a beta of 0.58.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data 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 14.61%. The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The business'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. Equities research analysts anticipate 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 will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, June 26th. This is a positive change from Medtronic's previous quarterly dividend of $0.71. Medtronic's payout ratio is presently 76.14%.

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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