Willis Investment Counsel Buys 22,491 Shares of Medtronic PLC $MDT

Willis Investment Counsel grew its stake in shares of Medtronic PLC (NYSE:MDT) by 5.7% in the second quarter, Holdings Channel reports. The institutional investor owned 414,539 shares of the medical technology company’s stock after purchasing an additional 22,491 shares during the period. Medtronic accounts for approximately 1.5% of Willis Investment Counsel’s holdings, making the stock its 22nd biggest position. Willis Investment Counsel’s holdings in Medtronic were worth $32,429,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Monetary Solutions Ltd bought a new position in Medtronic during the fourth quarter valued at about $27,000. Anfield Capital Management LLC lifted its position in Medtronic by 410.7% in the fourth 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. Acumen Wealth Advisors LLC acquired a new stake in Medtronic during the fourth quarter worth $29,000. Imprint Wealth LLC acquired a new stake in shares of Medtronic during the 3rd quarter valued at about $31,000. Finally, Basepoint Wealth LLC bought a new stake in Medtronic in the fourth quarter valued at $32,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Evercore set a $105.00 price target on shares of Medtronic in a research report on Monday, July 6th. The Goldman Sachs Group cut their price target on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Rothschild & Co Redburn cut their price target on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Finally, UBS Group upgraded Medtronic from a “neutral” rating to a “buy” rating and raised their price objective 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $98.83.

Medtronic Trading Down 0.9%

MDT stock opened at $90.44 on Tuesday. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The stock has a market cap of $115.77 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The company has a fifty day moving average price of $83.40 and a two-hundred day moving average price of $86.19. 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 issued its quarterly earnings data 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 company 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 company’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is 77.21%.

Insider Transactions at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by company 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).