Van Lanschot Kempen Investment Management N.V. Acquires 228,316 Shares of Medtronic PLC $MDT

Key Points

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Van Lanschot Kempen Investment Management N.V. grew its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,103,050 shares of the medical technology company's stock after purchasing an additional 228,316 shares during the period. Medtronic makes up about 2.0% of Van Lanschot Kempen Investment Management N.V.'s portfolio, making the stock its 12th biggest position. Van Lanschot Kempen Investment Management N.V. owned about 0.16% of Medtronic worth $188,980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. Boston Partners grew its position in Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock worth $619,460,000 after acquiring an additional 3,809,450 shares during the last quarter. Nuveen LLC acquired a new position in Medtronic during the 1st quarter worth about $260,649,000. Burgundy Asset Management Ltd. acquired a new position in Medtronic during the 4th quarter worth about $174,329,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Medtronic during the 4th quarter worth about $139,869,000. Finally, Mackenzie Financial Corp lifted its holdings in Medtronic by 220.9% during the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company's stock worth $216,753,000 after buying an additional 1,660,357 shares during the period. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Up 1.7%

MDT traded up $1.5210 during midday trading on Friday, reaching $92.6210. 4,870,626 shares of the company were exchanged, compared to its average volume of 7,618,189. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The company's fifty day moving average price is $89.73 and its 200 day moving average price is $88.03. The company has a market cap of $118.72 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's payout ratio is currently 78.24%.

Analyst Ratings Changes

Several research analysts have commented on MDT shares. Citigroup lifted their target price on Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a report on Thursday. Evercore ISI lifted their target price on Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. William Blair raised Medtronic to a "hold" rating in a report on Friday, July 11th. Wells Fargo & Company lifted their target price on Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $101.15.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.