Medtronic PLC $MDT Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC grew its stake in Medtronic PLC (NYSE:MDT) by 40.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 21,509 shares of the medical technology company’s stock after acquiring an additional 6,173 shares during the period. Procyon Advisors LLC’s holdings in Medtronic were worth $1,864,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Curbstone Financial Management Corp increased its holdings in Medtronic by 1.8% in the 4th quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after purchasing an additional 100 shares during the last quarter. New England Capital Financial Advisors LLC lifted its stake 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 boosted its position in shares of Medtronic by 1.7% during the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock worth $572,000 after buying an additional 101 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Medtronic by 0.3% during the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after buying an additional 101 shares during the period. Finally, Baker Tilly Wealth Management LLC grew its stake in shares of Medtronic by 3.3% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $309,000 after buying an additional 102 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction 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 completion of the sale, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Medtronic Stock Down 0.3%

MDT stock opened at $83.58 on Tuesday. The company’s 50 day moving average price is $79.16 and its 200 day moving average price is $88.36. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The firm has a market capitalization of $106.98 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 2.25 and a beta of 0.56.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities research analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is 77.21%.

Analyst Ratings Changes

Several equities analysts recently issued reports on MDT shares. Robert W. Baird decreased their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Stifel Nicolaus set a $80.00 target price on Medtronic in a research report on Wednesday, June 3rd. Mizuho cut their price target 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. Sanford C. Bernstein reduced their price target on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Finally, 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. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.21.

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).