Global Retirement Partners LLC Increases Stake in Medtronic PLC $MDT

Key Points

• Global Retirement Partners LLC increased its Medtronic stake by 54.6% in the fourth quarter, buying 18,335 additional shares and bringing its holdings to 51,919 shares worth about $4.99 million.
• Institutional ownership remains heavy, with 82.06% of Medtronic stock held by hedge funds and other institutional investors. Several other funds also raised their positions during the quarter.
• Analysts remain mixed but generally constructive: Medtronic has a Moderate Buy consensus, though recent target-price cuts left the average price target at $106.45 and the stock was trading below its 200-day average.

Global Retirement Partners LLC boosted its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 54.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 51,919 shares of the medical technology company's stock after purchasing an additional 18,335 shares during the quarter. Global Retirement Partners LLC's holdings in Medtronic were worth $4,987,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Mach 1 Financial Group LLC grew its position in Medtronic by 351.7% during the 4th quarter. Mach 1 Financial Group LLC now owns 11,402 shares of the medical technology company's stock valued at $1,095,000 after purchasing an additional 8,878 shares during the last quarter. Trajan Wealth LLC grew its position in Medtronic by 0.6% during the 4th quarter. Trajan Wealth LLC now owns 56,178 shares of the medical technology company's stock valued at $5,396,000 after purchasing an additional 317 shares during the last quarter. Cypress Capital LLC grew its position in Medtronic by 2.2% during the 4th quarter. Cypress Capital LLC now owns 30,272 shares of the medical technology company's stock valued at $2,908,000 after purchasing an additional 660 shares during the last quarter. Aspen Investment Management Inc grew its position in Medtronic by 66.9% during the 4th quarter. Aspen Investment Management Inc now owns 6,659 shares of the medical technology company's stock valued at $640,000 after purchasing an additional 2,670 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in Medtronic during the 4th quarter valued at about $565,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MDT shares. Mizuho lowered their target price on shares of Medtronic from $125.00 to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 13th. UBS Group lowered their target price on shares of Medtronic from $104.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 22nd. Truist Financial lowered their target price on shares of Medtronic from $103.00 to $95.00 and set a "hold" rating on the stock in a research note on Wednesday, April 15th. Barclays upped their target price on shares of Medtronic from $118.00 to $120.00 and gave the company an "overweight" rating in a research note on Wednesday, April 1st. Finally, Weiss Ratings cut shares of Medtronic from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, April 21st. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.45.

Medtronic Price Performance

NYSE MDT opened at $78.11 on Friday. Medtronic PLC has a 12 month low of $74.40 and a 12 month high of $106.33. The stock has a market cap of $100.29 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.86 and a beta of 0.62. The company's 50 day moving average is $83.71 and its two-hundred day moving average is $93.25. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company had revenue of $9.02 billion for the quarter, compared to analysts' expectations of $8.89 billion. During the same quarter last year, the business earned $1.38 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. As a group, research analysts anticipate that Medtronic PLC will post 5.56 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.6%. Medtronic's dividend payout ratio (DPR) is presently 79.11%.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic said the SPR Therapeutics purchase will strengthen its neuromodulation portfolio by adding temporary peripheral nerve stimulation technology for chronic pain, a move that could support longer-term growth and broaden its treatment offerings. PR Newswire article
• Positive Sentiment: Reuters reported that the deal expands Medtronic’s portfolio of treatments for chronic pain, reinforcing the company’s strategy to grow in higher-value medical device categories. Reuters article
• Neutral Sentiment: Piper Sandler maintained its Hold rating on Medtronic, suggesting analysts are not yet signaling a major re-rating from the news. The Globe and Mail article
• Neutral Sentiment: Healthcare stocks were mixed in afternoon trading, so broader sector movement does not appear to be the main driver of Medtronic’s move. Yahoo Finance sector update
• Negative Sentiment: Some market commentary framed the SPR deal as a reason for MDT’s stock to slide, likely reflecting concern about acquisition costs and execution risk. Blockonomi article

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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