Valley Wealth Managers Inc. Grows Stock Position in Medtronic PLC $MDT

Valley Wealth Managers Inc. boosted its holdings in Medtronic PLC (NYSE:MDT) by 16,598.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,430 shares of the medical technology company’s stock after acquiring an additional 51,122 shares during the period. Valley Wealth Managers Inc.’s holdings in Medtronic were worth $4,456,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of Medtronic by 9.6% during the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after acquiring an additional 381 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Medtronic during the second quarter valued at about $299,000. Main Street Financial Solutions LLC increased its position in shares of Medtronic by 28.9% during the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after acquiring an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC raised its stake in shares of Medtronic by 21.3% in the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after acquiring an additional 3,376 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. 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 report on Thursday, June 4th. Wells Fargo & Company cut 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. Citigroup cut their target price on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Stifel Nicolaus set a $80.00 price target on Medtronic in a research note on Wednesday, June 3rd. Finally, Jefferies Financial Group restated a “hold” rating and set a $88.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $98.21.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s 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 sale, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $83.20 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The firm has a market cap of $106.50 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. The company’s 50 day moving average is $79.50 and its two-hundred day moving average is $87.99.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the firm posted $1.62 earnings per share. The company’s quarterly 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. On average, research analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a dividend of $0.72 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s dividend payout ratio is presently 77.21%.

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).