Medtronic PLC $MDT Holdings Raised by King Luther Capital Management Corp

Key Points

• King Luther Capital Management nearly doubled its Medtronic stake in the fourth quarter, increasing holdings by 93.9% to 61,870 shares worth about $5.94 million. Several other institutional investors also added to their positions, and institutions now own 82.06% of the stock.
• Medtronic recently paid a quarterly dividend of $0.71 per share, equal to an annualized dividend of $2.84 and a yield of 3.8%. The company’s payout ratio is currently 79.11%.
• Wall Street remains cautious but constructive on MDT, with analysts assigning a Moderate Buy consensus and a $106.45 price target. The stock is under pressure ahead of its June 3 earnings report, where investors are watching for signs of growth and the impact of a recent software recall.

King Luther Capital Management Corp grew its position in Medtronic PLC (NYSE:MDT - Free Report) by 93.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,870 shares of the medical technology company's stock after acquiring an additional 29,968 shares during the quarter. King Luther Capital Management Corp's holdings in Medtronic were worth $5,943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Curbstone Financial Management Corp increased its holdings in shares of Medtronic by 1.8% in the 4th quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company's stock valued at $537,000 after acquiring an additional 100 shares during the last quarter. New England Capital Financial Advisors LLC boosted its holdings in shares of Medtronic by 7.8% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company's stock valued at $135,000 after buying an additional 101 shares during the period. Baker Tilly Wealth Management LLC boosted its holdings in shares of Medtronic by 3.3% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company's stock valued at $309,000 after buying an additional 102 shares during the period. Maseco LLP boosted its holdings in shares of Medtronic by 32.1% in the 4th quarter. Maseco LLP now owns 444 shares of the medical technology company's stock valued at $43,000 after buying an additional 108 shares during the period. Finally, Holistic Financial Partners lifted its holdings in shares of Medtronic by 3.0% in the 3rd quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company's stock worth $352,000 after purchasing an additional 109 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

NYSE MDT opened at $75.56 on Friday. The stock has a market capitalization of $97.01 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.81 and a beta of 0.62. Medtronic PLC has a 1 year low of $74.40 and a 1 year high of $106.33. The business's fifty day moving average is $82.63 and its two-hundred day moving average is $92.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were issued 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 dividend yield of 3.8%. Medtronic's payout ratio is currently 79.11%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MDT. Truist Financial cut their price target on Medtronic from $103.00 to $95.00 and set a "hold" rating on the stock in a report on Wednesday, April 15th. Weiss Ratings downgraded Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. Jefferies Financial Group reaffirmed a "hold" rating and issued a $95.00 price objective on shares of Medtronic in a report on Thursday, April 23rd. Mizuho dropped their price objective on shares of Medtronic from $125.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Finally, Barclays increased their price objective on shares of Medtronic from $118.00 to $120.00 and gave the stock an "overweight" rating in a report on Wednesday, April 1st. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Medtronic has a consensus rating of "Moderate Buy" and a consensus price target of $106.45.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s Evolut TAVR platform was highlighted for superior clinical outcomes, which could support the company’s competitive position in a market expected to grow from $7.0 billion in 2025 to $13.8 billion by 2035. Medtronic’s Evolut displays superior clinical outcomes
• Positive Sentiment: Some commentary suggests Medtronic may be trading closer to fair value after its recent pullback, with M&A activity, FDA clearances, and product strength providing longer-term upside potential. Medtronic's Fair Value Falls Between Caution And Optimism
• Neutral Sentiment: Analysts continue to frame Medtronic as a mixed story into earnings, with some seeing the stock as fairly valued after its decline and others watching whether acquisitions and new product approvals can offset slower growth. Can Medtronic (MDT) Close the Growth Gap With Its Bigger MedTech Rivals?
• Neutral Sentiment: Medtronic is scheduled to report earnings on June 3, and coverage ahead of the release has focused on expectations for a earnings decline, which is keeping sentiment cautious. Analysts Estimate Medtronic (MDT) to Report a Decline in Earnings: What to Look Out for
• Negative Sentiment: Investor sentiment remains pressured ahead of earnings, with the stock recently down over short time frames and a voluntary Class II software recall adding another near-term headwind. Medtronic (MDT) Valuation Check As Earnings Approach And M&A FDA Moves And Recall Shape Sentiment
• Negative Sentiment: Recent trading showed Medtronic slipping despite a broader market advance, reinforcing the view that investors are rotating out of the name until the earnings update provides more clarity. Medtronic (MDT) Stock Drops Despite Market Gains: Important Facts to Note

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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