Fieldview Capital Management LLC Acquires Shares of 9,543 Medtronic PLC $MDT

Fieldview Capital Management LLC acquired a new stake in shares of Medtronic PLC (NYSE:MDT) in the fourth quarter, Holdings Channel.com reports. The firm acquired 9,543 shares of the medical technology company’s stock, valued at approximately $917,000.

A number of other institutional investors have also modified their holdings of MDT. Norges Bank purchased a new position in shares of Medtronic during the 4th quarter valued at about $1,653,485,000. Capital Research Global Investors raised its stake in shares of Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after buying an additional 3,880,174 shares during the last quarter. Barclays PLC raised its stake in shares of Medtronic by 104.6% during the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after buying an additional 3,492,192 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Medtronic by 78.3% during the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after buying an additional 3,307,211 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Medtronic by 35.3% during the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after buying an additional 2,658,981 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. TD Cowen reiterated a “buy” rating and set a $119.00 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. Wells Fargo & Company reduced their price objective on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Piper Sandler reduced their price objective on Medtronic from $91.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Insider Buying and Selling at Medtronic

In other 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 transaction of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Trading Down 0.1%

Shares of Medtronic stock opened at $80.11 on Monday. The stock has a market cap 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. The stock’s 50 day simple moving average is $80.85 and its 200-day simple moving average is $91.29. Medtronic PLC has a 1-year low of $73.31 and a 1-year 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 issued its 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. The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The business’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 firm posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts predict that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

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