Continuum Advisory LLC Buys 19,034 Shares of Medtronic PLC $MDT

Key Points

• Continuum Advisory LLC increased its Medtronic stake by 61.2% in Q1, buying 19,034 shares and bringing its total holding to 50,157 shares worth about $4.35 million.
• Medtronic reported quarterly earnings of $1.55 per share, edging past estimates, while revenue rose 9.9% year over year to $9.81 billion and topped analyst expectations.
• The company also raised its quarterly dividend to $0.72 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $99.00.

Continuum Advisory LLC lifted its position in Medtronic PLC (NYSE:MDT - Free Report) by 61.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,157 shares of the medical technology company's stock after purchasing an additional 19,034 shares during the period. Continuum Advisory LLC's holdings in Medtronic were worth $4,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CSM Advisors LLC raised its stake in Medtronic by 13.2% during the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company's stock valued at $27,169,000 after purchasing an additional 33,167 shares in the last quarter. SageView Advisory Group LLC increased its holdings in Medtronic by 164.8% during the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company's stock worth $2,305,000 after purchasing an additional 15,062 shares during the period. Madison Asset Management LLC increased its stake in shares of Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company's stock valued at $18,752,000 after buying an additional 25,527 shares during the period. Ticino Wealth purchased a new position in Medtronic during the 4th quarter valued at about $2,049,000. Finally, First Eagle Investment Management LLC raised its stake in Medtronic by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company's stock worth $939,009,000 after buying an additional 40,196 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Insider Transactions 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 shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Performance

MDT opened at $80.94 on Monday. 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 price is $79.39 and its 200 day moving average price is $89.66. The firm has a market capitalization of $103.60 billion, a PE ratio of 21.70, a PEG ratio of 2.17 and a beta of 0.58. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33.

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

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Medtronic's previous quarterly dividend of $0.71. Medtronic's payout ratio is 77.21%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group reiterated a "hold" rating and issued a $88.00 target price on shares of Medtronic in a report on Thursday, June 4th. Wall Street Zen lowered Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Mizuho cut their price objective on shares of Medtronic from $120.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 3rd. BTIG Research upgraded Medtronic from a "neutral" rating to a "buy" rating and set a $90.00 price target for the company in a research report on Wednesday, June 3rd. Finally, Weiss Ratings lowered shares of 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $99.00.

About Medtronic

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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