Beacon Investment Advisory Services Inc. Has $6 Million Position in Medtronic PLC $MDT

Beacon Investment Advisory Services Inc. increased its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 8,759.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,632 shares of the medical technology company's stock after purchasing an additional 75,767 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in Medtronic were worth $5,995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDT. Madison Asset Management LLC lifted its holdings in shares of Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company's stock worth $18,752,000 after purchasing an additional 25,527 shares during the period. First Eagle Investment Management LLC increased its holdings in Medtronic by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company's stock valued at $939,009,000 after purchasing an additional 40,196 shares during the period. Gradient Investments LLC raised its position in Medtronic by 3.9% during the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company's stock worth $38,842,000 after purchasing an additional 18,509 shares during the last quarter. Czech National Bank raised its position in Medtronic by 4.7% during the 2nd quarter. Czech National Bank now owns 365,443 shares of the medical technology company's stock worth $28,589,000 after purchasing an additional 16,292 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in Medtronic by 12.7% during the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company's stock worth $75,988,000 after buying an additional 89,111 shares during the period. Institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Cowen increased their price target on Medtronic from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Needham & Company LLC upped their target price on Medtronic from $101.00 to $114.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $92.00 target price on shares of Medtronic in a research report on Thursday, September 3rd. Robert W. Baird boosted their price target on shares of Medtronic from $91.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 2nd. Finally, Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday. Nineteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $103.92.

Medtronic Price Performance

Medtronic stock opened at $92.41 on Wednesday. The stock has a market capitalization of $118.20 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.21 and a beta of 0.56. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The stock's 50 day moving average price is $87.33 and its two-hundred day moving average price is $85.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. During the same quarter in the previous year, the business posted $1.26 EPS. Medtronic's revenue for the quarter was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, equities analysts predict that Medtronic PLC will post 5.96 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic's payout ratio is 70.94%.

About Medtronic

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company's portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.

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