Massachusetts Financial Services Co. MA Has $1.55 Billion Stock Holdings in Medtronic PLC $MDT

Massachusetts Financial Services Co. MA decreased its position in Medtronic PLC (NYSE:MDT - Free Report) by 7.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 19,872,600 shares of the medical technology company's stock after selling 1,564,999 shares during the period. Massachusetts Financial Services Co. MA owned about 1.55% of Medtronic worth $1,554,633,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Anfield Capital Management LLC grew its stake in shares of Medtronic by 410.7% during 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 bought a new stake in shares of Medtronic in the fourth quarter worth $27,000. Acumen Wealth Advisors LLC bought a new stake in shares of Medtronic in the fourth quarter worth $29,000. Imprint Wealth LLC acquired a new position in Medtronic during the third quarter worth $31,000. Finally, Basepoint Wealth LLC acquired a new position in Medtronic during the fourth quarter worth $32,000. Institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of MDT opened at $91.10 on Monday. The company has a market cap of $116.62 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.45 and a beta of 0.55. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company's fifty day simple moving average is $83.20 and its 200 day simple moving average is $86.26. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52.

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 (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, research analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, June 26th. This is a positive change from Medtronic's previous quarterly dividend of $0.71. Medtronic's payout ratio is currently 77.21%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MDT. Leerink Partners decreased their target price on shares of Medtronic from $117.00 to $104.00 and set an "outperform" rating for the company in a research report on Thursday, June 4th. Evercore set a $105.00 price objective on shares of Medtronic in a research note on Monday, July 6th. UBS Group upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $85.00 to $100.00 in a research note on Tuesday, July 28th. BTIG Research restated a "buy" rating and issued a $91.00 price objective on shares of Medtronic in a report on Monday, July 13th. Finally, Rothschild & Co Redburn lowered their target price on Medtronic from $111.00 to $106.00 and set a "buy" rating on the stock in a research report on Friday, June 5th. Eighteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $98.83.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm'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 completion of the sale, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company's stock.

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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