ABN Amro Investment Solutions Invests $7.54 Million in Medtronic PLC $MDT

ABN Amro Investment Solutions purchased a new stake in Medtronic PLC (NYSE:MDT) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 87,059 shares of the medical technology company’s stock, valued at approximately $7,544,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MDT. Lodestone Wealth Management LLC acquired a new stake in Medtronic during the fourth quarter worth about $27,000. Anfield Capital Management LLC raised its stake in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares during the period. Monetary Solutions Ltd acquired a new position in Medtronic in the 4th quarter valued at about $27,000. Acumen Wealth Advisors LLC acquired a new position in Medtronic in the 4th quarter valued at about $29,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Medtronic in the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, 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 filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MDT has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Citigroup cut their target price on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Evercore set a $105.00 target price on Medtronic in a research report on Monday, July 6th. Sanford C. Bernstein decreased their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Finally, Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $98.21.

Medtronic Trading Down 0.4%

Shares of NYSE MDT opened at $82.00 on Thursday. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $79.90 and a 200-day simple moving average of $87.65. The stock has a market capitalization of $104.97 billion, a PE ratio of 21.98, a PEG ratio of 2.21 and a beta of 0.56.

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

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is currently 77.21%.

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).