Medtronic PLC $MDT Shares Bought by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group increased its Medtronic stake by 123.7% in the second quarter, bringing its holdings to 20,060 shares valued at approximately $1.65 million. Institutional investors collectively own 82.06% of the company.
• Analysts maintain a generally positive outlook, with 18 Buy ratings and nine Hold ratings; Medtronic has a consensus rating of “Moderate Buy” and an average price target of $98.83.
• Medtronic reported quarterly revenue of $9.81 billion and EPS of $1.55, exceeding estimates, while revenue grew 9.9% year over year. The company also raised its quarterly dividend to $0.72 per share, implying a 3.2% yield.

Chicago Partners Investment Group LLC lifted its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 123.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 20,060 shares of the medical technology company's stock after buying an additional 11,094 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Medtronic were worth $1,645,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MDT. Anfield Capital Management LLC lifted its holdings in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock worth $27,000 after acquiring an additional 230 shares during the last quarter. Monetary Solutions Ltd bought a new position in shares of Medtronic during the fourth quarter valued at approximately $27,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $29,000. Imprint Wealth LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $31,000. Finally, Basepoint Wealth LLC bought a new stake in shares of Medtronic in the 4th quarter worth approximately $32,000. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MDT. Needham & Company LLC restated a "buy" rating and set a $101.00 price objective on shares of Medtronic in a research report on Wednesday, June 17th. Leerink Partners dropped their target price on Medtronic from $117.00 to $104.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. Evercore set a $105.00 target price on Medtronic in a research note on Monday, July 6th. Piper Sandler reissued a "neutral" rating on shares of Medtronic in a report on Monday. Finally, Weiss Ratings lowered shares of Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.83.

Medtronic Stock Up 0.6%

Shares of Medtronic stock opened at $91.10 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The business's fifty day moving average price is $83.20 and its two-hundred day moving average price is $86.36. The company has a market capitalization of $116.62 billion, a P/E ratio of 24.42, a PEG ratio of 2.43 and a beta of 0.55.

Medtronic (NYSE:MDT - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the company earned $1.62 earnings per share. 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, research analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 26th. This is a positive change from Medtronic's previous quarterly dividend of $0.71. Medtronic's dividend payout ratio is 77.21%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction 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. The trade was a 10.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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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