Czech National Bank Acquires 16,292 Shares of Medtronic PLC $MDT

Key Points

• Czech National Bank increased its Medtronic stake by 4.7% in the second quarter, buying 16,292 shares to bring its holdings to 365,443 shares valued at approximately $28.6 million. Institutional investors collectively own 82.06% of MDT.
• Medtronic exceeded quarterly expectations with $1.55 in adjusted EPS and $9.81 billion in revenue, up 9.9% year over year. The company guided to fiscal 2027 EPS of $5.90–$6.00.
• Medtronic raised its quarterly dividend to $0.72 per share, or $2.88 annually, representing a 3.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $98.83, while one executive sold 4,189 shares.

Czech National Bank lifted its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 4.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 365,443 shares of the medical technology company's stock after purchasing an additional 16,292 shares during the period. Czech National Bank's holdings in Medtronic were worth $28,589,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Red Spruce Capital LLC raised its stake in Medtronic by 2.1% in the second quarter. Red Spruce Capital LLC now owns 25,799 shares of the medical technology company's stock worth $2,018,000 after buying an additional 540 shares in the last quarter. Chapin Davis Inc. boosted its position in Medtronic by 41.9% during the 2nd quarter. Chapin Davis Inc. now owns 3,898 shares of the medical technology company's stock valued at $305,000 after acquiring an additional 1,151 shares in the last quarter. JGP Wealth Management LLC boosted its position in Medtronic by 1.7% during the 2nd quarter. JGP Wealth Management LLC now owns 46,750 shares of the medical technology company's stock valued at $3,657,000 after acquiring an additional 798 shares in the last quarter. DMKC Advisory Services LLC increased its holdings in shares of Medtronic by 25.0% in the 2nd quarter. DMKC Advisory Services LLC now owns 37,496 shares of the medical technology company's stock valued at $2,933,000 after acquiring an additional 7,503 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its holdings in shares of Medtronic by 54.1% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 27,591 shares of the medical technology company's stock valued at $2,158,000 after acquiring an additional 9,681 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

MDT opened at $87.14 on Friday. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The company has a market cap of $111.54 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 2.30 and a beta of 0.55. The firm's 50-day moving average price is $81.94 and its 200-day moving average price is $86.68.

Medtronic (NYSE:MDT - Get Free Report) last released its 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 company had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. Medtronic's revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the business earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities analysts anticipate 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 was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. This is an increase from Medtronic's previous quarterly dividend of $0.71. Medtronic's payout ratio is presently 77.21%.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated 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 of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

MDT has been the subject of a number of analyst reports. Sanford C. Bernstein decreased their price objective on Medtronic from $112.00 to $97.00 and set an "outperform" rating for the company in a research note on Thursday, June 4th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $118.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Medtronic from $100.00 to $78.00 and set a "hold" rating for the company in a report on Thursday, June 4th. Robert W. Baird decreased their price target on shares of Medtronic from $93.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, June 4th. Finally, Truist Financial lowered their price target on shares of Medtronic from $95.00 to $86.00 and set a "hold" rating on the stock in a report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Medtronic has a consensus rating of "Moderate Buy" and a consensus price target of $98.83.

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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