Western Wealth Management LLC Acquires 14,891 Shares of Medtronic PLC $MDT

Western Wealth Management LLC boosted its holdings in Medtronic PLC (NYSE:MDT) by 271.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,382 shares of the medical technology company’s stock after acquiring an additional 14,891 shares during the quarter. Western Wealth Management LLC’s holdings in Medtronic were worth $1,766,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Medtronic during the 4th quarter worth about $1,653,485,000. WCM Investment Management LLC bought a new stake in Medtronic during the 1st quarter worth approximately $965,922,000. Capital Research Global Investors increased its holdings in Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after purchasing an additional 3,880,174 shares in the last quarter. Wellington Management Group LLP raised its position in Medtronic by 35.3% in the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after purchasing an additional 2,658,981 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Medtronic by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after purchasing an additional 1,888,381 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 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 transaction, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of research analyst reports. Weiss Ratings cut Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Needham & Company LLC reissued a “buy” rating and set a $101.00 price objective on shares of Medtronic in a report on Wednesday, June 17th. BTIG Research restated a “buy” rating and issued a $91.00 price objective on shares of Medtronic in a research report on Monday, July 13th. Wells Fargo & Company dropped their target price on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Finally, Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a research note on Wednesday, June 3rd. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.83.

Medtronic Price Performance

Medtronic stock opened at $90.65 on Thursday. The firm has a market capitalization of $116.04 billion, a P/E ratio of 24.30, a PEG ratio of 2.43 and a beta of 0.55. The business has a 50-day moving average of $82.84 and a 200-day moving average of $86.40. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33.

Medtronic (NYSE:MDT) last issued 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 net margin of 13.20% and a return on equity of 14.51%. The firm had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the previous year, the company earned $1.62 earnings per share. The business’s revenue for the quarter 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 analysts anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a dividend of $0.72 per share. 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 dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s payout ratio is 77.21%.

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).