Healthcare of Ontario Pension Plan Trust Fund Acquires 21,344 Shares of Medtronic PLC $MDT

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its Medtronic stake by 4.2% in the first quarter, buying 21,344 more shares and bringing its total holdings to 530,048 shares valued at about $45.9 million.
• Medtronic reported quarterly earnings of $1.55 per share, slightly ahead of analyst estimates, with revenue of $9.81 billion that also topped expectations. The company also reaffirmed FY 2027 guidance of 5.90-6.00 EPS.
• The company raised its quarterly dividend to $0.72 per share, implying an annualized yield of about 3.5%. Meanwhile, analysts remain cautiously positive, with a consensus rating of Moderate Buy and an average price target of $98.21.

Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 530,048 shares of the medical technology company's stock after buying an additional 21,344 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Medtronic were worth $45,929,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MDT. Brighton Jones LLC grew its stake in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares during the period. Sivia Capital Partners LLC lifted its stake in Medtronic by 9.6% in the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company's stock valued at $380,000 after buying an additional 381 shares during the period. Jump Financial LLC acquired a new position in Medtronic in the second quarter valued at about $299,000. Main Street Financial Solutions LLC boosted its holdings in Medtronic by 28.9% during the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company's stock worth $1,251,000 after buying an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC boosted its holdings in Medtronic by 21.3% during the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company's stock worth $1,676,000 after buying an additional 3,376 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Up 1.4%

Medtronic stock opened at $83.12 on Friday. The stock has a market capitalization of $106.40 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. Medtronic PLC has a twelve month low of $73.31 and a twelve month 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 50 day moving average of $80.15 and a 200-day moving average of $87.52.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data 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. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the business posted $1.62 earnings per share. The firm's quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities research analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were issued a dividend of $0.72 per share. This is a boost from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.5%. Medtronic's dividend payout ratio is currently 77.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein lowered their price target on Medtronic from $112.00 to $97.00 and set an "outperform" rating for the company in a research note on Thursday, June 4th. Citigroup decreased their price objective on shares of Medtronic from $117.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $100.00 to $86.00 and set a "neutral" rating for the company in a research note on Thursday, June 4th. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Finally, Leerink Partners decreased their price target on shares of Medtronic from $117.00 to $104.00 and set an "outperform" rating for the company in a report on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and an average target price of $98.21.

Insider Activity

In other Medtronic 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 value of $336,963.16. Following the sale, the executive vice president owned 37,227 shares of the company's stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

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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