Medtronic PLC $MDT Stake Lifted by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its Medtronic stake by 5.4% in the fourth quarter, adding 83,573 shares to bring its total holdings to 1,638,078 shares worth about $157.4 million.
• Medtronic reported fiscal fourth-quarter earnings of $1.55 per share, edging past estimates, while revenue rose 9.9% year over year to $9.81 billion.
• The company also raised its quarterly dividend to $0.72 per share from $0.71, and analysts currently view the stock as a Moderate Buy with an average price target of $99.00.

Russell Investments Group Ltd. lifted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,638,078 shares of the medical technology company's stock after acquiring an additional 83,573 shares during the quarter. Russell Investments Group Ltd. owned about 0.13% of Medtronic worth $157,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC acquired a new position in shares of Medtronic during the 4th quarter valued at $27,000. Anfield Capital Management LLC lifted its holdings in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock valued at $27,000 after buying an additional 230 shares during the period. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic in the fourth quarter valued at $29,000. GoalVest Advisory LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in Medtronic during the fourth quarter valued at about $29,000. Institutional investors own 82.06% of the company's stock.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, 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 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.

Analysts Set New Price Targets

A number of research firms recently issued reports on MDT. Deutsche Bank Aktiengesellschaft lowered their target price on Medtronic from $100.00 to $78.00 and set a "hold" rating on the stock in a report on Thursday, June 4th. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Barclays lifted their price objective on shares of Medtronic from $118.00 to $120.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 1st. UBS Group dropped their target price on shares of Medtronic from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, June 4th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $88.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and an average price target of $99.00.

Medtronic Trading Up 1.2%

NYSE:MDT opened at $81.36 on Wednesday. The stock has a fifty day simple moving average of $80.62 and a 200 day simple moving average of $90.95. The firm has a market capitalization of $104.45 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data 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. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the company earned $1.62 EPS. The business's revenue for the quarter was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.94 earnings per share 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 3.5%. Medtronic's payout ratio is currently 76.14%.

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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