Alpine Woods Capital Investors LLC Takes $5.36 Million Position in Medtronic PLC $MDT

Key Points

• Alpine Woods Capital Investors acquired 68,491 Medtronic shares worth approximately $5.36 million, making the stock about 1.2% of its portfolio. Institutional investors collectively own 82.06% of Medtronic.
• Analysts maintain a generally positive outlook, with 18 Buy ratings and nine Holds. Medtronic has a “Moderate Buy” consensus rating and an average price target of $98.83.
• Medtronic exceeded quarterly earnings and revenue expectations, reporting $1.55 in EPS and $9.81 billion in revenue, while revenue grew 9.9% year over year. The company also declared a quarterly dividend of $0.72 per share, representing a 3.1% annualized yield.

Alpine Woods Capital Investors LLC acquired a new stake in Medtronic PLC (NYSE:MDT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 68,491 shares of the medical technology company's stock, valued at approximately $5,358,000. Medtronic comprises about 1.2% of Alpine Woods Capital Investors LLC's investment portfolio, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Monetary Solutions Ltd purchased a new stake in Medtronic during the fourth quarter valued at about $27,000. Anfield Capital Management LLC lifted its holdings in shares of 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 buying an additional 230 shares during the last quarter. Acumen Wealth Advisors LLC acquired a new position in Medtronic in the fourth quarter worth about $29,000. Imprint Wealth LLC bought a new position in shares of Medtronic during the 3rd quarter worth approximately $31,000. Finally, Basepoint Wealth LLC bought a new position in Medtronic in the 4th quarter valued at $32,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on MDT. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. TD Cowen decreased their price objective on Medtronic from $119.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 10th. Truist Financial lowered their target price 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. Rothschild & Co Redburn dropped their price target on shares of Medtronic from $111.00 to $106.00 and set a "buy" rating on the stock in a research report on Friday, June 5th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $88.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and an average price target of $98.83.

Medtronic Trading Up 1.2%

Shares of MDT stock opened at $93.44 on Friday. The firm has a market capitalization of $119.60 billion, a P/E ratio of 25.05, a P/E/G ratio of 2.47 and a beta of 0.55. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The stock's fifty day simple moving average is $84.39 and its 200 day simple moving average is $86.06.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts predict that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the business's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares of the company's stock, valued at $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 available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Company 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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