Dearborn Partners LLC Makes New $4.39 Million Investment in Medtronic PLC $MDT

Key Points

• Dearborn Partners purchased 50,691 Medtronic shares worth approximately $4.39 million during the second quarter. Institutional investors collectively own 82.06% of the company.
• Medtronic reported quarterly revenue of $9.81 billion, up 9.9% year over year, and adjusted earnings of $1.55 per share, narrowly exceeding estimates. The company maintained fiscal 2027 EPS guidance of $5.90–$6.00.
• Medtronic declared a quarterly dividend of $0.72 per share, equivalent to a 3.1% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $98.83.

Dearborn Partners LLC purchased a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 50,691 shares of the medical technology company's stock, valued at approximately $4,392,000.

Several other hedge funds also recently modified their holdings of MDT. New England Capital Financial Advisors LLC boosted its holdings in Medtronic by 7.8% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company's stock valued at $135,000 after purchasing an additional 101 shares during the period. Ipsen Advisor Group LLC increased its holdings in shares of Medtronic by 1.7% during the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company's stock worth $572,000 after purchasing an additional 101 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Medtronic by 0.3% during the 4th quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company's stock worth $3,120,000 after purchasing an additional 101 shares during the period. Rossby Financial LCC raised its position in shares of Medtronic by 5.1% during the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company's stock valued at $211,000 after buying an additional 107 shares during the last quarter. Finally, Wealthspire Retirement LLC raised its position in shares of Medtronic by 5.0% during the fourth quarter. Wealthspire Retirement LLC now owns 2,410 shares of the medical technology company's stock valued at $232,000 after buying an additional 114 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.5%

Shares of MDT opened at $92.92 on Tuesday. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $84.64 and a 200-day simple moving average of $85.87. The stock has a market cap of $118.94 billion, a PE ratio of 24.91, a PEG ratio of 2.50 and a beta of 0.55.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the previous year, the firm earned $1.62 EPS. Medtronic'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, sell-side analysts predict that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic's payout ratio is currently 77.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Medtronic from $100.00 to $78.00 and set a "hold" rating on the stock in a research report on Thursday, June 4th. UBS Group upgraded Medtronic from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $100.00 in a research report on Tuesday, July 28th. Royal Bank Of Canada reissued an "outperform" rating and set a $118.00 price objective on shares of Medtronic in a report on Thursday, June 4th. Weiss Ratings restated a "hold (c)" rating on shares of Medtronic in a research report on Tuesday, August 18th. Finally, Evercore set a $105.00 target price on Medtronic in a research note on Monday, July 6th. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.83.

Insider Activity at Medtronic

In other 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 approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company's stock.

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).

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