Medtronic PLC $MDT Stake Raised by Amundi

Key Points

• Amundi increased its Medtronic stake by 36.3% in the first quarter, adding 1.62 million shares to own 6.07 million shares valued at approximately $526 million. Institutional investors collectively own 82.06% of the company.
• Medtronic reported quarterly revenue of $9.81 billion and adjusted earnings of $1.55 per share, exceeding analyst estimates, while revenue grew 9.9% year over year. The company guided to fiscal 2027 earnings of $5.90–$6.00 per share.
• The company raised its quarterly dividend to $0.72 per share, equivalent to $2.88 annually and a 3.3% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.83, although some firms recently lowered their targets.

Amundi raised its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 36.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,070,236 shares of the medical technology company's stock after acquiring an additional 1,616,739 shares during the quarter. Amundi owned 0.47% of Medtronic worth $525,986,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Madison Asset Management LLC increased its position in shares of Medtronic by 15.0% in the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company's stock worth $18,752,000 after acquiring an additional 25,527 shares in the last quarter. Ticino Wealth purchased a new stake in shares of Medtronic in the 4th quarter valued at approximately $2,049,000. First Eagle Investment Management LLC lifted its position in shares of Medtronic by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company's stock valued at $939,009,000 after acquiring an additional 40,196 shares in the last quarter. KBC Group NV boosted its stake in Medtronic by 5.2% in the 4th quarter. KBC Group NV now owns 430,508 shares of the medical technology company's stock worth $41,354,000 after purchasing an additional 21,384 shares during the period. Finally, Cerity Partners LLC boosted its stake in Medtronic by 12.7% in the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company's stock worth $75,988,000 after purchasing an additional 89,111 shares during the period. Institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 0.7%

Shares of NYSE:MDT opened at $87.53 on Thursday. The firm has a fifty day moving average of $80.64 and a two-hundred day moving average of $87.17. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The firm has a market capitalization of $112.04 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 2.33 and a beta of 0.56.

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, topping analysts' consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period in the prior year, the business posted $1.62 earnings per share. Medtronic'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. On average, equities analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. This is an increase from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date was Friday, June 26th. Medtronic's dividend payout ratio is presently 77.21%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MDT. Barclays boosted 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. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $118.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Truist Financial lowered their price target on Medtronic from $95.00 to $86.00 and set a "hold" rating on the stock in a report on Thursday, June 4th. Robert W. Baird dropped their price target on Medtronic from $93.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, June 4th. Finally, Citigroup reduced their price objective on Medtronic from $117.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $98.83.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares of the company's stock, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

About Medtronic

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).

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.