Medtronic PLC $MDT Shares Bought by Verity & Verity LLC

Verity & Verity LLC increased its position in shares of Medtronic PLC (NYSE:MDT) by 5.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 229,707 shares of the medical technology company’s stock after acquiring an additional 11,197 shares during the period. Verity & Verity LLC’s holdings in Medtronic were worth $17,970,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of 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 purchasing an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Medtronic by 9.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after buying an additional 381 shares in the last quarter. Jump Financial LLC purchased a new stake in Medtronic in the 2nd quarter valued at approximately $299,000. Main Street Financial Solutions LLC grew its holdings in Medtronic by 28.9% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after buying an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC increased its position in Medtronic by 21.3% during the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock worth $1,676,000 after buying an additional 3,376 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 0.1%

NYSE:MDT opened at $90.69 on Friday. The business’s 50-day moving average is $83.01 and its two-hundred day moving average is $86.33. The firm has a market capitalization of $116.09 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 2.43 and a beta of 0.55. 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.

Medtronic (NYSE:MDT) last announced its 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. The business 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 revenue was up 9.9% on a year-over-year basis. 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. Research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, June 26th. Medtronic’s payout ratio is currently 77.21%.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction 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 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $88.00 price target on shares of Medtronic in a report on Thursday, June 4th. Needham & Company LLC restated a “buy” rating and issued a $101.00 target price on shares of Medtronic in a report on Wednesday, June 17th. BTIG Research reaffirmed a “buy” rating and set a $91.00 price target on shares of Medtronic in a research note on Monday, July 13th. Evercore set a $105.00 price objective on shares of Medtronic in a research report on Monday, July 6th. Finally, Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Eighteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average target price 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).