Howe & Rusling Inc. Boosts Stock Holdings in Medtronic PLC $MDT

Howe & Rusling Inc. grew its position in shares of Medtronic PLC (NYSE:MDT) by 43.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 94,051 shares of the medical technology company’s stock after purchasing an additional 28,624 shares during the quarter. Howe & Rusling Inc.’s holdings in Medtronic were worth $9,035,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lodestone Wealth Management LLC purchased a new position in Medtronic during the 4th quarter worth $27,000. Anfield Capital Management LLC boosted its holdings in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 230 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in Medtronic during the 4th quarter worth $29,000. GoalVest Advisory LLC purchased a new position in Medtronic during the 4th quarter worth $29,000. Finally, Acumen Wealth Advisors LLC purchased a new position in Medtronic during the 4th quarter worth $29,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions 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 stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of analyst reports. Sanford C. Bernstein cut their price objective on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Citigroup cut their price objective on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Leerink Partners cut their price objective on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Evercore set a $106.00 price target on shares of Medtronic and gave the stock an “outperform” rating in a report on Thursday, April 9th. Finally, Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a research report on Wednesday, June 3rd. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Medtronic Stock Up 1.2%

MDT stock opened at $81.36 on Wednesday. The stock has a fifty day moving average of $80.62 and a 200-day moving average of $90.95. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The company has a market capitalization of $104.45 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.16 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the previous year, the business posted $1.62 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a $0.72 dividend. The ex-dividend date is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.5%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is presently 76.14%.

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).