Banque Cantonale Vaudoise Buys 16,967 Shares of Medtronic PLC $MDT

Key Points

• Banque Cantonale Vaudoise increased its Medtronic stake by 33.5% in the first quarter, buying 16,967 additional shares and bringing its total holdings to 67,616 shares worth about $5.86 million.
• Medtronic reported better-than-expected quarterly results, posting EPS of $1.55 and revenue of $9.81 billion, with revenue up 9.9% year over year.
• The company also raised its quarterly dividend to $0.72 per share, and analysts currently view MDT as a Moderate Buy with an average price target of $99.

Banque Cantonale Vaudoise boosted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 33.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 67,616 shares of the medical technology company's stock after buying an additional 16,967 shares during the period. Banque Cantonale Vaudoise's holdings in Medtronic were worth $5,859,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its stake in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Medtronic by 9.6% during the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company's stock valued at $380,000 after buying an additional 381 shares during the period. Jump Financial LLC bought a new position in shares of Medtronic during the second quarter valued at approximately $299,000. Main Street Financial Solutions LLC grew its stake in shares of Medtronic by 28.9% during the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company's stock valued at $1,251,000 after buying an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC raised its holdings in shares of Medtronic by 21.3% in the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company's stock worth $1,676,000 after buying an additional 3,376 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred on 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 $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Down 0.6%

Shares of NYSE MDT opened at $80.16 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $102.61 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58. The stock's fifty day simple moving average is $79.67 and its two-hundred day simple moving average is $89.95. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly 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. The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. This is an increase from Medtronic's previous quarterly dividend of $0.71. Medtronic's payout ratio is presently 76.14%.

Analyst Ratings Changes

Several brokerages have commented on MDT. Barclays upped their price objective on Medtronic from $118.00 to $120.00 and gave the company an "overweight" rating in a research report on Wednesday, April 1st. BTIG Research upgraded Medtronic from a "neutral" rating to a "buy" rating and set a $90.00 target price for the company in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $100.00 to $86.00 and set a "neutral" rating for the company in a research note on Thursday, June 4th. Citigroup cut their price target on shares of Medtronic from $117.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $88.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, Medtronic presently has a consensus rating of "Moderate Buy" and an average price target of $99.00.

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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