Ethic Inc. Boosts Holdings in Medtronic PLC $MDT

Ethic Inc. raised its position in Medtronic PLC (NYSE:MDT) by 8.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 158,467 shares of the medical technology company’s stock after buying an additional 12,713 shares during the quarter. Ethic Inc.’s holdings in Medtronic were worth $12,397,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Medtronic by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares during the period. State Street Corp increased its holdings in shares of Medtronic by 2.0% in the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after purchasing an additional 1,199,621 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Medtronic by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock valued at $5,150,420,000 after purchasing an additional 1,419,730 shares during the period. Capital Research Global Investors lifted its stake in shares of Medtronic by 12.6% in the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after purchasing an additional 3,880,174 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Medtronic by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after buying an additional 231,919 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of several research analyst reports. TD Cowen decreased their price target on Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Wells Fargo & Company decreased their target price on Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Medtronic from $100.00 to $86.00 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $98.83.

Medtronic Trading Up 0.6%

Shares of Medtronic stock opened at $91.10 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 business has a 50 day moving average price of $83.20 and a 200 day moving average price of $86.36. The company has a market capitalization of $116.62 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.43 and a beta of 0.55.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter last year, the business posted $1.62 earnings per share. Medtronic’s revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

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

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

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).