Medtronic PLC $MDT Shares Purchased by Western Wealth Management LLC

Western Wealth Management LLC grew its position in shares of Medtronic PLC (NYSE:MDT) by 271.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 20,382 shares of the medical technology company’s stock after buying an additional 14,891 shares during the quarter. Western Wealth Management LLC’s holdings in Medtronic were worth $1,766,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Curbstone Financial Management Corp raised its position in shares of Medtronic by 1.8% during the 4th quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after acquiring an additional 100 shares in the last quarter. New England Capital Financial Advisors LLC lifted its stake in Medtronic by 7.8% during the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock worth $135,000 after purchasing an additional 101 shares during the last quarter. Ipsen Advisor Group LLC boosted its holdings in Medtronic by 1.7% in the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock worth $572,000 after purchasing an additional 101 shares during the period. Quadrant Capital Group LLC boosted its holdings in Medtronic by 0.3% in the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after purchasing an additional 101 shares during the period. Finally, Rossby Financial LCC increased its stake in Medtronic by 5.1% during the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock valued at $211,000 after purchasing an additional 107 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and set a $88.00 target price on shares of Medtronic in a report on Thursday, June 4th. Evercore set a $105.00 price target on shares of Medtronic in a report on Monday, July 6th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $98.83.

Medtronic Price Performance

Shares of MDT opened at $85.64 on Friday. Medtronic PLC has a 12 month low of $73.31 and a 12 month 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 stock has a fifty day moving average price of $80.94 and a 200 day moving average price of $87.07. The company has a market cap of $109.62 billion, a P/E ratio of 22.96, a PEG ratio of 2.29 and a beta of 0.56.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.62 billion. During the same period last year, the business posted $1.62 earnings per share. The firm’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 forecast that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a $0.72 dividend. The ex-dividend date was Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.4%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is 77.21%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently 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).