Medtronic PLC $MDT Shares Acquired by Verity & Verity LLC

Key Points

• Verity & Verity LLC increased its Medtronic stake by 5.1% in the second quarter, acquiring 11,197 additional shares for a total holding of 229,707 shares valued at approximately $17.97 million. Institutional investors and hedge funds own 82.06% of the company.
• Analysts maintain a generally positive outlook, with Medtronic receiving a consensus “Moderate Buy” rating and an average price target of $98.83. Recent targets range from $88 to $100, alongside both buy and hold ratings.
• Medtronic reported quarterly EPS of $1.55 and revenue of $9.81 billion, exceeding estimates, while revenue grew 9.9% year over year. The company also raised its quarterly dividend to $0.72, representing a 3.2% annualized yield.

Verity & Verity LLC lifted its position in Medtronic PLC (NYSE:MDT - Free Report) by 5.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,707 shares of the medical technology company's stock after acquiring an additional 11,197 shares during the period. Verity & Verity LLC's holdings in Medtronic were worth $17,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in MDT. Anfield Capital Management LLC grew its holdings in shares of Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock worth $27,000 after buying an additional 230 shares in the last quarter. Monetary Solutions Ltd acquired a new position in Medtronic during the fourth quarter worth about $27,000. Acumen Wealth Advisors LLC acquired a new position in Medtronic during the fourth quarter worth about $29,000. Imprint Wealth LLC purchased a new stake in Medtronic during the 3rd quarter valued at about $31,000. Finally, Basepoint Wealth LLC purchased a new stake in Medtronic during the 4th quarter valued at about $32,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares of the company's stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MDT. BTIG Research reissued a "buy" rating and issued a $91.00 target price on shares of Medtronic in a research note on Monday, July 13th. Jefferies Financial Group restated a "hold" rating and issued a $88.00 target price on shares of Medtronic in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Medtronic from $100.00 to $78.00 and set a "hold" rating for the company in a report on Thursday, June 4th. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Finally, TD Cowen dropped their price target on shares of Medtronic from $119.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 10th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Medtronic has an average rating of "Moderate Buy" and a consensus price target of $98.83.

Medtronic Stock Performance

Shares of MDT stock opened at $90.69 on Friday. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The firm's 50 day moving average price is $83.01 and its 200-day moving average price is $86.33. The firm has a market cap of $116.09 billion, a P/E ratio of 24.31, a P/E/G ratio of 2.43 and a beta of 0.55.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (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 firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the business earned $1.62 EPS. The company's quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities research analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, June 26th. This is a boost from Medtronic's previous quarterly dividend of $0.71. Medtronic's dividend payout ratio (DPR) is 77.21%.

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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