Medtronic PLC $MDT Shares Acquired by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC increased its position in shares of Medtronic PLC (NYSE:MDT) by 123.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,060 shares of the medical technology company’s stock after acquiring an additional 11,094 shares during the period. Chicago Partners Investment Group LLC’s holdings in Medtronic were worth $1,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC raised 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 worth $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Medtronic by 9.6% during 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 in the last quarter. Jump Financial LLC bought a new stake in Medtronic during the second quarter worth approximately $299,000. Main Street Financial Solutions LLC grew its position in Medtronic by 28.9% in the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock worth $1,251,000 after buying an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC grew 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 worth $1,676,000 after buying an additional 3,376 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.6%

MDT stock opened at $91.10 on Friday. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The company has a market cap of $116.62 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.43 and a beta of 0.55. The company has a 50 day moving average of $83.20 and a two-hundred day moving average of $86.36.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping 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%.Medtronic’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were issued a dividend of $0.72 per share. The ex-dividend date was Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is presently 77.21%.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of recent research reports. UBS Group upgraded Medtronic from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $100.00 in a research report on Tuesday, July 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $101.00 target price on shares of Medtronic in a research report on Wednesday, June 17th. Wells Fargo & Company reduced their target price on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $88.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $118.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.83.

Insider Activity at Medtronic

In related 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 value of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

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).