Czech National Bank Increases Stake in Medtronic PLC $MDT

Czech National Bank raised its stake in Medtronic PLC (NYSE:MDT) by 4.7% in the second quarter, HoldingsChannel reports. The fund owned 365,443 shares of the medical technology company’s stock after purchasing an additional 16,292 shares during the period. Czech National Bank’s holdings in Medtronic were worth $28,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Madison Asset Management LLC raised its position in Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after acquiring an additional 25,527 shares during the period. Ticino Wealth acquired a new stake in shares of Medtronic in the fourth quarter valued at about $2,049,000. First Eagle Investment Management LLC grew its position in shares of Medtronic by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock valued at $939,009,000 after purchasing an additional 40,196 shares during the period. KBC Group NV increased its stake in shares of Medtronic by 5.2% during the fourth quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock worth $41,354,000 after purchasing an additional 21,384 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Medtronic by 12.7% during the fourth quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock worth $75,988,000 after purchasing an additional 89,111 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of several research analyst reports. Evercore set a $105.00 price target on shares of Medtronic in a research report on Monday, July 6th. Mizuho cut their price objective on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. BTIG Research reiterated a “buy” rating and set a $91.00 price objective on shares of Medtronic in a research note on Monday, July 13th. Piper Sandler reissued a “neutral” rating and set a $85.00 target price on shares of Medtronic in a report on Tuesday, June 16th. Finally, The Goldman Sachs Group decreased their target price on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.83.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.26% of the company’s stock.

Medtronic Trading Up 1.4%

Shares of Medtronic stock opened at $87.14 on Friday. The stock has a 50 day moving average of $81.94 and a 200 day moving average of $86.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The firm has a market capitalization of $111.54 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 2.30 and a beta of 0.55. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were issued a $0.72 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.3%. Medtronic’s payout ratio is presently 77.21%.

About Medtronic

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).