Greenup Street Wealth Management LLC Has $3.08 Million Stock Holdings in Medtronic PLC $MDT

Key Points

• Greenup Street Wealth Management more than doubled its Medtronic stake in Q1, increasing holdings by 119.5% to 35,492 shares worth about $3.08 million.
• Medtronic reported better-than-expected quarterly results, with EPS of $1.55 topping estimates and revenue rising 9.9% year over year to $9.81 billion. The company also raised its full-year guidance for FY 2027 to $5.90-$6.00 EPS.
• The company announced a higher quarterly dividend of $0.72 per share, and analysts remain broadly positive with an average rating of Moderate Buy and a $99 average target price.

Greenup Street Wealth Management LLC lifted its position in Medtronic PLC (NYSE:MDT - Free Report) by 119.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 35,492 shares of the medical technology company's stock after purchasing an additional 19,325 shares during the quarter. Greenup Street Wealth Management LLC's holdings in Medtronic were worth $3,075,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MDT. Artisan Partners Limited Partnership boosted its holdings in Medtronic by 2.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company's stock valued at $117,579,000 after acquiring an additional 31,314 shares during the last quarter. CSM Advisors LLC increased its position in Medtronic by 13.2% in the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company's stock worth $27,169,000 after purchasing an additional 33,167 shares during the period. SageView Advisory Group LLC raised its holdings in Medtronic by 164.8% during the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company's stock worth $2,305,000 after purchasing an additional 15,062 shares during the last quarter. Madison Asset Management LLC raised its holdings in Medtronic by 15.0% during the 4th 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 last quarter. Finally, Ticino Wealth acquired a new position in Medtronic during the 4th quarter valued at about $2,049,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MDT. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Rothschild & Co Redburn dropped their price target on shares of Medtronic from $111.00 to $106.00 and set a "buy" rating for the company in a research note on Friday, June 5th. Evercore set a $106.00 price objective on shares of Medtronic and gave the company an "outperform" rating in a report on Thursday, April 9th. BTIG Research raised shares of Medtronic from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a research note on Wednesday, June 3rd. Finally, Mizuho lowered their target price on shares of Medtronic from $120.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, June 3rd. Seventeen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and an average target price of $99.00.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on 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 directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company's stock.

Medtronic Price Performance

Medtronic stock opened at $80.16 on Thursday. The firm has a market capitalization of $102.61 billion, a P/E ratio of 21.49, a PEG ratio of 2.16 and a beta of 0.58. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The business has a 50-day moving average of $79.67 and a 200-day moving average of $89.95. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 0.52.

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 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 during the quarter, compared to analysts' expectations of $9.62 billion. During the same period in the prior year, the business posted $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. On average, equities analysts anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, June 26th. This is a boost from Medtronic's previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.6%. Medtronic's payout ratio is currently 76.14%.

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).

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