First Eagle Investment Management LLC Increases Stock Holdings in Medtronic PLC $MDT

Key Points

• First Eagle Investment Management increased its Medtronic stake by 0.4% in the fourth quarter, bringing its holdings to 9,775,234 shares worth about $939 million.
• Medtronic reported better-than-expected quarterly results, with EPS of $1.36 versus $1.34 expected and revenue of $9.02 billion, up 5.8% year over year.
• The stock has pulled back sharply, opening at $74.56 and sitting near its 52-week low, even as analysts currently rate it a Moderate Buy with an average target price of $107.80.

First Eagle Investment Management LLC increased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,775,234 shares of the medical technology company's stock after buying an additional 40,196 shares during the period. Medtronic comprises approximately 1.7% of First Eagle Investment Management LLC's investment portfolio, making the stock its 23rd largest holding. First Eagle Investment Management LLC owned approximately 0.76% of Medtronic worth $939,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Corundum Trust Company INC purchased a new position in Medtronic in the 3rd quarter valued at $27,000. Lodestone Wealth Management LLC purchased a new position in Medtronic in the 4th quarter valued at $27,000. Anfield Capital Management LLC lifted 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 purchasing an additional 230 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in Medtronic in the 3rd quarter valued at $29,000. Finally, Board of the Pension Protection Fund purchased a new position in Medtronic in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen lowered Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Evercore set a $106.00 price objective on Medtronic and gave the company an "outperform" rating in a report on Thursday, April 9th. Mizuho decreased their price objective on Medtronic from $125.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Jefferies Financial Group restated a "hold" rating and issued a $95.00 price objective on shares of Medtronic in a report on Thursday, April 23rd. Finally, Argus decreased their price objective on Medtronic from $125.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Fifteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $107.80.

Medtronic Stock Down 2.1%

Shares of MDT opened at $74.56 on Tuesday. Medtronic PLC has a 52-week low of $74.40 and a 52-week high of $106.33. The company has a market capitalization of $95.73 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.81 and a beta of 0.62. The stock has a fifty day simple moving average of $86.40 and a two-hundred day simple moving average of $94.14. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

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

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were paid 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 3.8%. Medtronic's dividend payout ratio (DPR) is 79.11%.

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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