Atria Investments Inc Has $12.24 Million Position in Medtronic PLC $MDT

Key Points

• Atria Investments increased its Medtronic stake by 12.1% in the second quarter, owning 156,519 shares valued at approximately $12.24 million. Institutional investors and hedge funds collectively hold 82.06% of the company.
• Medtronic reported quarterly earnings of $1.55 per share on revenue of $9.81 billion, surpassing analyst estimates, while revenue rose 9.9% year over year. The company raised its quarterly dividend to $0.72, providing a 3.2% annualized yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.83, compared with the stock’s reported price of $90.69. Recent analyst actions were mixed, with several firms lowering price targets while retaining mostly positive or neutral ratings.

Atria Investments Inc raised its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 12.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,519 shares of the medical technology company's stock after acquiring an additional 16,887 shares during the quarter. Atria Investments Inc's holdings in Medtronic were worth $12,245,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MDT. Anfield Capital Management LLC increased its position in shares of Medtronic by 410.7% during the 4th 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 in the last quarter. Monetary Solutions Ltd acquired a new position in Medtronic in the fourth quarter valued at about $27,000. Acumen Wealth Advisors LLC bought a new stake in Medtronic during the fourth quarter worth about $29,000. Imprint Wealth LLC bought a new stake in Medtronic during the third quarter worth about $31,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Medtronic during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Price Performance

Shares of MDT stock opened at $90.69 on Friday. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The firm's 50 day moving average is $83.01 and its 200-day moving average is $86.33. The firm has a market capitalization of $116.09 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 2.43 and a beta of 0.55.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same quarter last year, the business posted $1.62 earnings per share. Medtronic'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. Sell-side analysts forecast that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were paid a $0.72 dividend. This is an increase from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. Medtronic's payout ratio is 77.21%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Piper Sandler reiterated a "neutral" rating on shares of Medtronic in a research note on Monday. Leerink Partners decreased their price target on Medtronic from $117.00 to $104.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. The Goldman Sachs Group dropped their price target on Medtronic from $84.00 to $83.00 and set a "neutral" rating for the company in a report on Thursday, June 4th. Weiss Ratings downgraded Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Finally, TD Cowen reduced their price objective on Medtronic from $119.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 10th. Eighteen equities 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $98.83.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business'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 completion of the sale, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.26% of the company's stock.

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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