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

Longfellow Investment Management Co. LLC raised 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 hedge funds and other institutional investors have also made changes to their positions in the company. New England Capital Financial Advisors LLC raised its holdings 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 in the last quarter. Ipsen Advisor Group LLC lifted its position 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 valued at $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 4th quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock valued at $3,120,000 after purchasing an additional 101 shares in the last quarter. Rossby Financial LCC boosted its holdings in Medtronic by 5.1% in the 4th 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 in the last quarter. Finally, Wealthspire Retirement LLC increased its position in Medtronic by 5.0% during the 4th quarter. Wealthspire Retirement LLC now owns 2,410 shares of the medical technology company’s stock worth $232,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MDT. Jefferies Financial Group reissued a “hold” rating and set a $88.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Evercore set a $105.00 price objective on Medtronic in a research report on Monday, July 6th. Royal Bank Of Canada restated an “outperform” rating and set a $118.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research note on Monday, August 10th. Finally, UBS Group upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $100.00 in a report on Tuesday, July 28th. Eighteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.83.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Medtronic Trading Down 1.8%

NYSE:MDT opened at $92.45 on Friday. The company has a market capitalization of $118.33 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.55. 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 stock has a fifty day simple moving average of $84.12 and a 200-day simple moving average of $86.01.

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 the consensus estimate of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities research analysts expect that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

About Medtronic

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).