Soltis Investment Advisors LLC Acquires 8,114 Shares of Medtronic PLC $MDT

Soltis Investment Advisors LLC lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,646 shares of the medical technology company’s stock after purchasing an additional 8,114 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Medtronic were worth $10,377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Medtronic in the 4th quarter valued at $1,653,485,000. WCM Investment Management LLC bought a new stake in Medtronic in the first quarter worth $965,922,000. Capital Research Global Investors increased its position in Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after buying an additional 3,880,174 shares during the last quarter. Wellington Management Group LLP increased its position in Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after buying an additional 2,658,981 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Medtronic by 1.5% during 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 buying an additional 1,888,381 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

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 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 directly owned 37,227 shares of the company’s stock, valued at $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 is available at the SEC website. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of analyst reports. Truist Financial reduced their price target on Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Leerink Partners lowered their price objective on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research note on Monday, August 10th. Royal Bank Of Canada restated an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. Finally, Sanford C. Bernstein decreased their target price on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.83.

Medtronic Stock Down 0.2%

Medtronic stock opened at $91.10 on Monday. 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 firm has a fifty day moving average price of $83.20 and a two-hundred day moving average price of $86.26. The firm has a market cap of $116.62 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 2.45 and a beta of 0.55.

Medtronic (NYSE:MDT) last issued 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 company had revenue of $9.81 billion for 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%.The firm’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, 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. Shareholders of record on Friday, June 26th were issued a $0.72 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend 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 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).