Strategic Financial Concepts LLC Purchases Shares of 8,886 Medtronic PLC $MDT

Strategic Financial Concepts LLC bought a new stake in shares of Medtronic PLC (NYSE:MDT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,886 shares of the medical technology company’s stock, valued at approximately $695,000.

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

Analysts Set New Price Targets

MDT has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Wells Fargo & Company lowered their price objective on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Stifel Nicolaus set a $80.00 price objective on shares of Medtronic in a research note on Wednesday, June 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $101.00 target price on shares of Medtronic in a research report on Wednesday, June 17th. Finally, Mizuho cut their target price on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Eighteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.83.

Medtronic Stock Performance

Shares of MDT stock opened at $90.69 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The stock’s 50-day moving average is $83.01 and its two-hundred day moving average is $86.33. The firm has a market cap of $116.09 billion, a P/E ratio of 24.31, a PEG ratio of 2.43 and a beta of 0.55.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.01. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $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 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, June 26th. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.2%. Medtronic’s payout ratio is 77.21%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

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).