Medtronic PLC $MDT Shares Acquired by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management boosted its Medtronic stake by 19.6% in the fourth quarter, buying 118,110 additional shares and bringing its total holdings to 719,949 shares worth about $69.2 million.
• Wall Street sentiment remains constructive, with 17 analysts rating Medtronic a Buy and 11 a Hold; the stock carries an average “Moderate Buy” rating and a $99 average price target.
• Medtronic posted better-than-expected quarterly results and raised its dividend to $0.72 per share, while also guiding FY 2027 EPS to $5.90-$6.00.

Rockefeller Capital Management L.P. increased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 19.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 719,949 shares of the medical technology company's stock after purchasing an additional 118,110 shares during the period. Rockefeller Capital Management L.P. owned 0.06% of Medtronic worth $69,159,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MDT. Monetary Solutions Ltd acquired a new stake in shares of Medtronic in the fourth quarter valued at $27,000. Lodestone Wealth Management LLC bought a new stake in Medtronic in the fourth quarter worth about $27,000. Anfield Capital Management LLC raised its position in Medtronic by 410.7% in the fourth 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. Board of the Pension Protection Fund acquired a new stake in Medtronic in the 4th quarter valued at about $29,000. Finally, GoalVest Advisory LLC acquired a new stake in Medtronic in the 4th quarter valued at about $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Evercore set a $106.00 price objective on shares of Medtronic and gave the stock an "outperform" rating in a research note on Thursday, April 9th. Barclays increased 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. Jefferies Financial Group restated a "hold" rating and set a $88.00 target price on shares of Medtronic in a report on Thursday, June 4th. Leerink Partners decreased their price target on shares of Medtronic from $117.00 to $104.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $118.00 price target on shares of Medtronic in a report on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $99.00.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president owned 37,227 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Medtronic Price Performance

NYSE MDT opened at $79.37 on Friday. 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 PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a market cap of $101.90 billion, a PE ratio of 21.28, a PEG ratio of 2.13 and a beta of 0.58. The stock's 50-day moving average price is $80.13 and its two-hundred day moving average price is $90.50.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. The company 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 14.61%. The business's revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the company posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a $0.72 dividend. This is a boost from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. Medtronic's payout ratio is currently 76.14%.

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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