Brasada Capital Management LP Grows Position in Medtronic PLC $MDT

Brasada Capital Management LP raised its holdings in Medtronic PLC (NYSE:MDT) by 742.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,525 shares of the medical technology company’s stock after acquiring an additional 44,525 shares during the period. Brasada Capital Management LP’s holdings in Medtronic were worth $4,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Curbstone Financial Management Corp increased its position in shares of Medtronic by 1.8% during the 4th quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after purchasing an additional 100 shares during the last quarter. New England Capital Financial Advisors LLC increased its position in shares of Medtronic by 7.8% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after purchasing an additional 101 shares during the last quarter. Ipsen Advisor Group LLC increased its position in shares of Medtronic by 1.7% during the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after purchasing an additional 101 shares during the last quarter. Quadrant Capital Group LLC grew its position in Medtronic by 0.3% during the 4th quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after acquiring an additional 101 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC grew its position in Medtronic by 3.3% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock worth $309,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction 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 $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by insiders.

Medtronic Stock Down 0.3%

MDT stock opened at $80.11 on Friday. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The business has a fifty day moving average price of $80.85 and a 200-day moving average price of $91.38. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The stock has a market capitalization of $102.85 billion, a P/E ratio of 21.48, a P/E/G ratio of 2.30 and a beta of 0.58.

Medtronic (NYSE:MDT) last posted its quarterly earnings results 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. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The firm had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a $0.72 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is presently 76.14%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MDT. Mizuho cut their price objective on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Weiss Ratings cut Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Royal Bank Of Canada reiterated an “outperform” rating and set a $118.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Jefferies Financial Group reiterated a “hold” rating and set a $88.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Finally, UBS Group lowered their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Seventeen 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

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).