Focus Partners Wealth Boosts Stake in Medtronic PLC $MDT

Focus Partners Wealth raised its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 106.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 463,460 shares of the medical technology company's stock after purchasing an additional 239,265 shares during the quarter. Focus Partners Wealth's holdings in Medtronic were worth $44,535,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new stake in Medtronic in the fourth quarter valued at $27,000. Anfield Capital Management LLC raised its position in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 230 shares during the period. Board of the Pension Protection Fund purchased a new stake in Medtronic in the fourth quarter valued at $29,000. GoalVest Advisory LLC purchased a new stake in Medtronic in the fourth quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in Medtronic in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

MDT opened at $80.37 on Tuesday. The stock's 50-day moving average price is $80.73 and its 200 day moving average price is $91.12. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The firm has a market cap of $103.19 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.30 and a beta of 0.58.

Medtronic (NYSE:MDT - Get Free Report) last posted its 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. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the prior year, the company earned $1.62 EPS. Medtronic's revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.72 per share. This is a positive change from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.6%. Medtronic's dividend payout ratio (DPR) is currently 76.14%.

Insiders Place Their Bets

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 stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. Citigroup reduced their target price on Medtronic from $117.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Truist Financial reduced their target price on Medtronic from $95.00 to $86.00 and set a "hold" rating on the stock in a research report on Thursday, June 4th. Needham & Company LLC decreased their target price on Medtronic from $120.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday, June 3rd. The Goldman Sachs Group decreased their target price on Medtronic from $84.00 to $83.00 and set a "neutral" rating on the stock in a research note on Thursday, June 4th. Finally, Robert W. Baird decreased their target price on Medtronic from $93.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.00.

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).

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