Swiss Life Asset Management Ltd Takes $63.27 Million Position in Medtronic PLC $MDT

Key Points

• Swiss Life Asset Management acquired 808,757 Medtronic shares valued at approximately $63.27 million, while institutional investors collectively own 82.06% of the company.
• Medtronic reported quarterly revenue of $9.81 billion and EPS of $1.55, beating analyst estimates; revenue increased 9.9% year over year. The company’s FY 2027 EPS guidance is $5.90–$6.00.
• Medtronic raised its quarterly dividend to $0.72 per share, equivalent to a 3.2% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.83.

Swiss Life Asset Management Ltd purchased a new stake in Medtronic PLC (NYSE:MDT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 808,757 shares of the medical technology company's stock, valued at approximately $63,269,000. Swiss Life Asset Management Ltd owned approximately 0.06% of Medtronic as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Monetary Solutions Ltd purchased a new position in Medtronic during the 4th quarter worth approximately $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 purchasing an additional 230 shares in the last quarter. Acumen Wealth Advisors LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at $29,000. Imprint Wealth LLC acquired a new stake in shares of Medtronic in the third quarter worth $31,000. Finally, Basepoint Wealth LLC purchased a new position in shares of Medtronic during the fourth quarter valued at $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Trading Up 0.6%

Medtronic stock opened at $91.10 on Friday. The company's fifty day simple moving average is $83.20 and its 200-day simple moving average is $86.36. 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 stock has a market cap of $116.62 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.43 and a beta of 0.55.

Medtronic (NYSE:MDT - Get Free Report) last announced 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. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.Medtronic's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts forecast that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. TD Cowen dropped their price target on Medtronic from $119.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, July 10th. Mizuho decreased their price objective on Medtronic from $120.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, June 3rd. Stifel Nicolaus set a $80.00 target price on Medtronic in a research note on Wednesday, June 3rd. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Finally, Weiss Ratings downgraded Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. Eighteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $98.83.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was 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 owned 37,227 shares of the company's stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company's stock.

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).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source