Delta Financial Advisors LLC Raises Holdings in Medtronic PLC $MDT

Delta Financial Advisors LLC boosted its position in Medtronic PLC (NYSE:MDT) by 211.1% in the 1st quarter, Holdings Channel reports. The firm owned 9,225 shares of the medical technology company’s stock after acquiring an additional 6,260 shares during the quarter. Delta Financial Advisors LLC’s holdings in Medtronic were worth $799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Monetary Solutions Ltd purchased a new stake in shares of Medtronic during the fourth quarter worth $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Medtronic in the fourth quarter worth about $27,000. Anfield Capital Management LLC lifted its stake in shares of 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 buying an additional 230 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in Medtronic during the fourth quarter worth about $29,000. Finally, GoalVest Advisory LLC acquired a new position in Medtronic during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MDT. Barclays increased their price objective on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Argus lowered their target price on Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Sanford C. Bernstein dropped their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Mizuho cut their price target on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. Finally, Citigroup cut their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.21.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly 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 legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by company insiders.

Medtronic Stock Up 1.5%

Medtronic stock opened at $80.52 on Thursday. The company has a market capitalization of $103.07 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 2.13 and a beta of 0.56. 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 50 day moving average price of $79.25 and a 200 day moving average price of $88.12.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the prior year, the firm earned $1.62 earnings per share. The firm’s 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. Research analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is currently 77.21%.

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).