Medtronic PLC $MDT Shares Purchased by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. raised its stake in Medtronic PLC (NYSE:MDT) by 16,598.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,430 shares of the medical technology company’s stock after purchasing an additional 51,122 shares during the period. Valley Wealth Managers Inc.’s holdings in Medtronic were worth $4,456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Brighton Jones LLC boosted its holdings in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after acquiring an additional 381 shares in the last quarter. Jump Financial LLC acquired a new stake in Medtronic during the 2nd quarter worth $299,000. Main Street Financial Solutions LLC raised its stake in Medtronic by 28.9% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock worth $1,251,000 after acquiring an additional 3,218 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its position in Medtronic by 21.3% in the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after acquiring an additional 3,376 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was 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 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 legal filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MDT. Sanford C. Bernstein decreased their price objective on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Evercore set a $105.00 target price on Medtronic in a report on Monday, July 6th. Argus decreased their target price on Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Citigroup decreased their target price on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.21.

Medtronic Stock Down 0.4%

Shares of NYSE:MDT opened at $83.20 on Friday. 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 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The stock has a market cap of $106.50 billion, a P/E ratio of 22.30, a P/E/G ratio of 2.23 and a beta of 0.56. The firm has a fifty day moving average price of $79.50 and a 200 day moving average price of $87.99.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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 net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period in the previous year, the business posted $1.62 earnings per share. Medtronic’s quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

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

Medtronic 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).