Madison Asset Management LLC Makes New Investment in Medtronic PLC $MDT

Key Points

• Madison Asset Management acquired 237,625 Medtronic shares worth approximately $18.6 million during the second quarter. Institutional investors collectively own 82.06% of the company.
• Analyst sentiment is positive overall, with 18 Buy ratings and nine Holds, producing a “Moderate Buy” consensus and an average price target of $98.83.
• Medtronic exceeded quarterly earnings and revenue expectations, reporting $1.55 in EPS and $9.81 billion in revenue, while maintaining a quarterly dividend of $0.72 per share, equivalent to a 3.1% annual yield.

Madison Asset Management LLC acquired a new stake in Medtronic PLC (NYSE:MDT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 237,625 shares of the medical technology company's stock, valued at approximately $18,589,000.

A number of other institutional investors have also recently added to or reduced their stakes in MDT. Anfield Capital Management LLC increased 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 worth $27,000 after acquiring an additional 230 shares in the last quarter. Monetary Solutions Ltd purchased a new position in Medtronic during the fourth quarter valued at $27,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at about $29,000. IAG Wealth Partners LLC acquired a new stake in shares of Medtronic in the second quarter valued at about $30,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Medtronic during the third quarter worth about $31,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several research analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Medtronic in a research report on Tuesday. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Needham & Company LLC reissued a "buy" rating and set a $101.00 target price on shares of Medtronic in a report on Wednesday, June 17th. Stifel Nicolaus set a $80.00 target price on Medtronic in a research report on Wednesday, June 3rd. Finally, BTIG Research reaffirmed a "buy" rating and issued a $91.00 price target on shares of Medtronic in a research note on Tuesday. Eighteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.83.

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. Company insiders own 0.26% of the company's stock.

Medtronic Stock Up 1.2%

Shares of MDT opened at $93.44 on Friday. 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 capitalization of $119.60 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 2.47 and a beta of 0.55. The stock has a fifty day simple moving average of $84.39 and a two-hundred day simple moving average of $86.06. Medtronic PLC has a 52-week low of $73.31 and a 52-week 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 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.01. The business 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%. The business's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic's dividend payout ratio (DPR) is presently 77.21%.

Medtronic Company 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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