CrossGen Wealth LLC Makes New $1.25 Million Investment in Medtronic PLC $MDT

CrossGen Wealth LLC purchased a new stake in shares of Medtronic PLC (NYSE:MDT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,017 shares of the medical technology company’s stock, valued at approximately $1,250,000. Medtronic accounts for 1.1% of CrossGen Wealth LLC’s holdings, making the stock its 28th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lodestone Wealth Management LLC purchased a new stake in Medtronic during the 4th quarter valued at about $27,000. Anfield Capital Management LLC increased its stake in Medtronic by 410.7% in the 4th 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 period. Board of the Pension Protection Fund bought a new stake in Medtronic in the fourth quarter valued at approximately $29,000. GoalVest Advisory LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $29,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $29,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of Medtronic stock opened at $79.37 on Friday. The business has a 50 day moving average of $80.32 and a 200 day moving average of $90.58. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a market cap of $101.90 billion, a PE ratio of 21.28, a P/E/G ratio of 2.10 and a beta of 0.58. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share 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 analysts’ expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities research analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is presently 76.14%.

Wall Street Analyst Weigh In

MDT has been the topic of several analyst reports. Mizuho decreased their target price on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. TD Cowen reissued a “buy” rating and issued a $119.00 price target on shares of Medtronic in a report on Thursday, June 4th. Piper Sandler restated a “neutral” rating and issued a $85.00 price objective on shares of Medtronic in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Finally, Sanford C. Bernstein dropped their target price on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Insider Buying and Selling at Medtronic

In related 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 transaction, the executive vice president owned 37,227 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

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).