Advisortrust Partners LLC Makes New $4.08 Million Investment in Medtronic PLC $MDT

Key Points

• Advisortrust Partners LLC opened a new position in Medtronic during the fourth quarter, buying 42,521 shares worth about $4.08 million. The stake represents roughly 1.8% of the firm’s portfolio and makes Medtronic its 14th-largest holding.
• Institutional interest in Medtronic remains high, with 82.06% of the stock owned by institutions and hedge funds. At the same time, EVP Harry Skip Kiil sold 4,189 shares in June, trimming his position by about 10.1%.
• Medtronic recently reported quarterly results that beat EPS and revenue estimates, and it also raised its quarterly dividend to $0.72 per share. Analysts currently rate the stock a Moderate Buy with a consensus price target of $99.

Advisortrust Partners LLC purchased a new stake in Medtronic PLC (NYSE:MDT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 42,521 shares of the medical technology company's stock, valued at approximately $4,085,000. Medtronic makes up approximately 1.8% of Advisortrust Partners LLC's investment portfolio, making the stock its 14th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Corient Private Wealth LLC grew its holdings in shares of Medtronic by 6.7% during the fourth quarter. Corient Private Wealth LLC now owns 601,950 shares of the medical technology company's stock worth $57,845,000 after buying an additional 37,920 shares in the last quarter. Mengis Capital Management Inc. lifted its position in shares of Medtronic by 3.0% in the fourth quarter. Mengis Capital Management Inc. now owns 94,877 shares of the medical technology company's stock worth $9,114,000 after purchasing an additional 2,785 shares in the last quarter. Storen Legacy Partners LLC bought a new stake in shares of Medtronic in the fourth quarter worth $201,000. Bayban acquired a new position in Medtronic during the fourth quarter worth $96,000. Finally, SHP Wealth Management bought a new position in Medtronic in the fourth quarter valued at $106,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic 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 completion of the sale, the executive vice president owned 37,227 shares of the company's stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MDT shares. Royal Bank Of Canada reissued an "outperform" rating and set a $118.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $88.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Robert W. Baird dropped their target price on Medtronic from $93.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, June 4th. Stifel Nicolaus set a $80.00 price target on Medtronic in a research note on Wednesday, June 3rd. Finally, Mizuho lowered their price target on Medtronic from $120.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 3rd. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $99.00.

Medtronic Price Performance

NYSE:MDT opened at $79.37 on Friday. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The firm has a market capitalization of $101.90 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 2.13 and a beta of 0.58. The stock's 50 day moving average price is $80.13 and its two-hundred day moving average price is $90.50. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same period in the previous year, the company posted $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. On average, analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.72 per share. The ex-dividend date 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 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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