Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Medtronic PLC $MDT

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Medtronic PLC (NYSE:MDT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 87,140 shares of the medical technology company’s stock, valued at approximately $8,371,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MDT. Brighton Jones LLC lifted its position in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Medtronic by 9.6% in the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after acquiring an additional 381 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Medtronic in the second quarter valued at approximately $299,000. Main Street Financial Solutions LLC lifted its position in shares of Medtronic by 28.9% in the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after acquiring an additional 3,218 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its position in shares of Medtronic by 21.3% in the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after acquiring an additional 3,376 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the sale, the executive vice president owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Medtronic Price Performance

MDT stock opened at $78.51 on Wednesday. The business has a fifty day moving average of $84.20 and a two-hundred day moving average of $93.43. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The stock has a market cap of $100.80 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.84 and a beta of 0.62. Medtronic PLC has a 52-week low of $74.40 and a 52-week high of $106.33.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 earnings per share. As a group, research analysts anticipate that Medtronic PLC will post 5.57 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.6%. Medtronic’s dividend payout ratio (DPR) is 79.11%.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s long-running dividend growth story is in focus again, with investors viewing the company as a stable income name as its 47-year streak of dividend increases is expected to continue. Medtronic dividend preview: 47-year growth streak set to continue
• Positive Sentiment: Medtronic is also benefiting from the broader “silver economy” investment theme, as aging populations continue to drive demand for medical devices and healthcare solutions. Silver Economy Investing: Why the Healthcare Giants Are in Focus
• Neutral Sentiment: The company announced Kweli Thompson will take over leadership of its neuroscience portfolio, replacing Brett Wall as part of a planned transition. The move keeps attention on execution in a major segment, but it is not a major financial update by itself. Medtronic Neuroscience Appointment Puts Focus On Execution And Growth Risks
• Neutral Sentiment: Medtronic also named new leaders in its neuroscience portfolio in a separate announcement, reinforcing that the change is already being absorbed by the market. Medtronic, BD name new leaders
• Neutral Sentiment: Recent trading commentary noted MDT had been advancing while the broader market declined, suggesting relative strength rather than a company-specific catalyst. Medtronic (MDT) Advances While Market Declines: Some Information for Investors

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Robert W. Baird increased their price target on Medtronic from $92.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Barclays increased their price target on Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Piper Sandler cut their price target on Medtronic from $105.00 to $91.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Weiss Ratings cut Medtronic from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, April 21st. Finally, Wells Fargo & Company assumed coverage on Medtronic in a report on Friday, January 30th. They issued an “overweight” rating and a $114.00 price target for the company. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $107.80.

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).