Te Ahumairangi Investment Management Ltd Has $6.62 Million Holdings in Medtronic PLC $MDT

Te Ahumairangi Investment Management Ltd increased its stake in Medtronic PLC (NYSE:MDT) by 11.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 68,883 shares of the medical technology company’s stock after purchasing an additional 7,012 shares during the quarter. Medtronic makes up approximately 1.2% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 24th largest position. Te Ahumairangi Investment Management Ltd’s holdings in Medtronic were worth $6,617,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at approximately $27,000. Anfield Capital Management LLC raised 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 during the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic in the fourth quarter valued at approximately $29,000. GoalVest Advisory LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at approximately $29,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Medtronic in the third quarter valued at approximately $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction 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 $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MDT shares. BTIG Research upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Wednesday, June 3rd. Truist Financial lowered their price objective on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Argus lowered their price objective on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Wells Fargo & Company reduced their price target on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Finally, Evercore set a $106.00 price target on Medtronic and gave the company an “outperform” rating in a research report on Thursday, April 9th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Medtronic Stock Up 0.0%

Medtronic stock opened at $80.28 on Friday. The firm has a market capitalization of $103.07 billion, a PE ratio of 21.52, a P/E/G ratio of 1.95 and a beta of 0.58. The company’s 50-day moving average is $80.97 and its 200-day moving average is $91.46. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. Medtronic’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.6%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is 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).