Medtronic PLC $MDT Shares Purchased by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC boosted its position in Medtronic PLC (NYSE:MDT) by 200.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,384 shares of the medical technology company’s stock after acquiring an additional 17,612 shares during the period. Longfellow Investment Management Co. LLC’s holdings in Medtronic were worth $2,064,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MDT. Anfield Capital Management LLC boosted its holdings in shares of Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares during the last quarter. Monetary Solutions Ltd acquired a new position in Medtronic in the fourth quarter valued at $27,000. Acumen Wealth Advisors LLC acquired a new position in Medtronic in the fourth quarter valued at $29,000. IAG Wealth Partners LLC purchased a new position in Medtronic during the second quarter worth about $30,000. Finally, Imprint Wealth LLC purchased a new position in Medtronic during the third quarter worth about $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $92.45 on Friday. The firm has a market capitalization of $118.33 billion, a PE ratio of 24.79, a P/E/G ratio of 2.52 and a beta of 0.55. 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 of $84.12 and a two-hundred day moving average of $86.01. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be issued a $0.72 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.88 annualized dividend and a yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. Truist Financial lowered their price target on Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Needham & Company LLC reiterated a “buy” rating and set a $101.00 price objective on shares of Medtronic in a report on Wednesday, June 17th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Weiss Ratings restated a “hold (c)” rating on shares of Medtronic in a report on Tuesday. Finally, BTIG Research reaffirmed a “buy” rating and set a $91.00 price target on shares of Medtronic in a research report on Tuesday. Eighteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $98.83.

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).