AustralianSuper Pty Ltd Increases Stock Position in Medtronic PLC $MDT

Key Points

• AustralianSuper Pty Ltd boosted its Medtronic stake by 32.4% in the fourth quarter, buying 53,006 additional shares and bringing its total holdings to 216,362 shares worth about $20.8 million.
• Medtronic continues to draw heavy institutional ownership, with hedge funds and other institutions holding 82.06% of the company; several major funds, including Vanguard and State Street, also increased their positions.
• The company recently reported earnings that beat analyst expectations, posted $9.02 billion in revenue, and maintained a quarterly dividend of $0.71 per share, implying an annual yield of about 3.7%.

AustralianSuper Pty Ltd raised its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 32.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 216,362 shares of the medical technology company's stock after buying an additional 53,006 shares during the period. AustralianSuper Pty Ltd's holdings in Medtronic were worth $20,784,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 1,888,381 shares during the period. State Street Corp increased its holdings in 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 purchasing an additional 625,992 shares during the period. Bank of New York Mellon Corp increased its holdings in Medtronic by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company's stock valued at $2,044,637,000 after purchasing an additional 192,410 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Medtronic by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company's stock valued at $2,008,278,000 after purchasing an additional 98,220 shares during the period. Finally, Raymond James Financial Inc. increased its holdings in Medtronic by 3.0% during the 3rd quarter. Raymond James Financial Inc. now owns 11,203,865 shares of the medical technology company's stock valued at $1,067,055,000 after purchasing an additional 327,899 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the company's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the sale, the executive vice president directly owned 32,768 shares of the company's stock, valued at $3,201,761.28. This represents a 61.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $120.00 target price on shares of Medtronic in a research note on Thursday, March 26th. Wells Fargo & Company assumed coverage on Medtronic in a research note on Friday, January 30th. They set an "overweight" rating and a $114.00 target price on the stock. Evercore set a $106.00 target price on Medtronic and gave the company an "outperform" rating in a research note on Thursday, April 9th. UBS Group decreased their price objective on shares of Medtronic from $104.00 to $90.00 and set a "neutral" rating for the company in a report on Wednesday, April 22nd. Finally, CICC Research began coverage on shares of Medtronic in a research report on Friday, January 30th. They issued an "outperform" rating for the company. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $107.80.

Medtronic Stock Performance

Shares of MDT opened at $76.12 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic PLC has a one year low of $74.40 and a one year high of $106.33. The firm has a market capitalization of $97.73 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.83 and a beta of 0.62. The company has a 50-day simple moving average of $84.76 and a two-hundred day simple moving average of $93.64.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same period in the previous year, the company posted $1.38 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, analysts anticipate that Medtronic PLC will post 5.57 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.7%. Medtronic's dividend payout ratio is currently 79.11%.

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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