Medtronic PLC $MDT Shares Acquired by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,070 shares of the medical technology company’s stock after purchasing an additional 17,053 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Medtronic were worth $18,859,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ballast Inc. lifted its stake in shares of Medtronic by 56.6% in the 2nd quarter. Ballast Inc. now owns 20,259 shares of the medical technology company’s stock worth $1,585,000 after acquiring an additional 7,320 shares during the period. Bank & Trust Co increased its stake in shares of Medtronic by 2.8% during the second quarter. Bank & Trust Co now owns 4,373 shares of the medical technology company’s stock worth $342,000 after acquiring an additional 121 shares during the period. Cardinal Capital Management Inc. increased its stake in shares of Medtronic by 5.9% during the second quarter. Cardinal Capital Management Inc. now owns 329,175 shares of the medical technology company’s stock worth $25,751,000 after acquiring an additional 18,264 shares during the period. Fiduciary Financial Group LLC raised its holdings in Medtronic by 2.6% during the second quarter. Fiduciary Financial Group LLC now owns 7,073 shares of the medical technology company’s stock worth $553,000 after purchasing an additional 182 shares in the last quarter. Finally, Partnership Wealth Management LLC raised its holdings in Medtronic by 4.6% during the second quarter. Partnership Wealth Management LLC now owns 16,195 shares of the medical technology company’s stock worth $1,267,000 after purchasing an additional 717 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This 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 is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

Medtronic Stock Performance

Shares of MDT stock opened at $90.69 on Friday. The stock has a fifty day moving average price of $83.01 and a 200 day moving average price of $86.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The stock has a market cap of $116.09 billion, a PE ratio of 24.31, a P/E/G ratio of 2.43 and a beta of 0.55. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33.

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

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a dividend of $0.72 per share. The ex-dividend date was Friday, June 26th. 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 3.2%. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Deutsche Bank Aktiengesellschaft cut their target price on Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Truist Financial decreased their price target on Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Evercore set a $105.00 price objective on Medtronic in a report on Monday, July 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $88.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.83.

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).