Barclays PLC Has $215.27 Million Stock Holdings in Medtronic PLC $MDT

Key Points

• Barclays PLC cut its Medtronic stake by 67.2% in the fourth quarter, though it still held 2.24 million shares worth about $215.3 million at the end of the period.
• Medtronic reported quarterly results that beat Wall Street expectations, with EPS of $1.55 on revenue of $9.81 billion, and revenue rose 9.9% year over year.
• The company also raised its quarterly dividend to $0.72 per share, implying an annualized yield of 3.6%; meanwhile, analysts currently rate the stock a Moderate Buy with a consensus target price of $99.00.

Barclays PLC lessened its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 67.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,240,964 shares of the medical technology company's stock after selling 4,590,239 shares during the period. Barclays PLC owned approximately 0.17% of Medtronic worth $215,267,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC acquired a new position in Medtronic in the 4th quarter valued at approximately $27,000. Anfield Capital Management LLC raised its holdings in Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in Medtronic in the 4th quarter valued at approximately $29,000. GoalVest Advisory LLC acquired a new position in Medtronic in the 4th quarter valued at approximately $29,000. Finally, Acumen Wealth Advisors LLC acquired a new position in Medtronic in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

MDT has been the subject of several recent research reports. The Goldman Sachs Group cut 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. Rothschild & Co Redburn lowered their price objective on Medtronic from $111.00 to $106.00 and set a "buy" rating on the stock in a research note on Friday, June 5th. Stifel Nicolaus set a $80.00 price objective on Medtronic in a research note on Wednesday, June 3rd. Jefferies Financial Group reiterated a "hold" rating and issued a $88.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Finally, Weiss Ratings lowered Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $99.00.

Medtronic Stock Down 0.1%

NYSE MDT opened at $80.11 on Monday. The firm has a market cap of $102.85 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.30 and a beta of 0.58. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The stock's 50 day simple moving average is $80.85 and its 200 day simple moving average is $91.29. 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 (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 analysts' consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.Medtronic's revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders 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 yield of 3.6%. The ex-dividend date is Friday, June 26th. This is a positive change from Medtronic's previous quarterly dividend of $0.71. Medtronic's dividend payout ratio is 76.14%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

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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