Medtronic PLC $MDT Shares Acquired by Gradient Investments LLC

Gradient Investments LLC lifted its position in shares of Medtronic PLC (NYSE:MDT) by 3.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 496,513 shares of the medical technology company’s stock after purchasing an additional 18,509 shares during the quarter. Gradient Investments LLC’s holdings in Medtronic were worth $38,842,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MDT. Norges Bank acquired a new stake in shares of Medtronic in the fourth quarter worth $1,653,485,000. WCM Investment Management LLC purchased a new position in shares of Medtronic in the 1st quarter valued at $965,922,000. Capital Research Global Investors lifted its holdings in shares of Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after acquiring an additional 3,880,174 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Medtronic by 35.3% during the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after acquiring an additional 2,658,981 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Medtronic by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after purchasing an additional 1,888,381 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Rothschild & Co Redburn reduced their price objective on Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. The Goldman Sachs Group decreased their target price on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Leerink Partners lowered their target price on Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Finally, Robert W. Baird dropped their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $98.83.

Medtronic Stock Performance

Medtronic stock opened at $87.14 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 company has a market capitalization of $111.54 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 2.30 and a beta of 0.55. The firm’s fifty day moving average price is $81.94 and its 200 day moving average price is $86.68.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 EPS. 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 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were issued a $0.72 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction that occurred on 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 $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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).