Medtronic PLC $MDT Shares Acquired by Everett Harris & Co. CA

Everett Harris & Co. CA lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 13.0% in the second quarter, Holdings Channel reports. The firm owned 61,038 shares of the medical technology company’s stock after buying an additional 7,045 shares during the period. Everett Harris & Co. CA’s holdings in Medtronic were worth $4,775,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MDT. Anfield Capital Management LLC lifted its stake in Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares in the last quarter. Monetary Solutions Ltd purchased a new stake in Medtronic during the 4th quarter worth approximately $27,000. Acumen Wealth Advisors LLC purchased a new stake in Medtronic during the 4th quarter worth approximately $29,000. Imprint Wealth LLC acquired a new position in shares of Medtronic during the third quarter valued at approximately $31,000. Finally, Basepoint Wealth LLC acquired a new position in shares of Medtronic during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 0.9%

Shares of Medtronic stock opened at $90.44 on Tuesday. The stock has a market cap of $115.77 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.45 and a beta of 0.55. The stock’s 50 day simple moving average is $83.40 and its 200-day simple moving average is $86.19. 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.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating 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 firm had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter last year, the firm earned $1.62 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts predict that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The business 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 represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) 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 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MDT. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research report on Monday, August 10th. BTIG Research reiterated a “buy” rating and set a $91.00 price target on shares of Medtronic in a research report on Monday, July 13th. Evercore set a $105.00 price objective on Medtronic in a research note on Monday, July 6th. The Goldman Sachs Group decreased their price objective on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Finally, Rothschild & Co Redburn lowered their target price on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $98.83.

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).