OneDigital Investment Advisors LLC boosted its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 30.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,697 shares of the medical technology company's stock after purchasing an additional 33,878 shares during the period. OneDigital Investment Advisors LLC's holdings in Medtronic were worth $11,320,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Anfield Capital Management LLC increased its holdings in shares of 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 buying an additional 230 shares in the last quarter. Monetary Solutions Ltd acquired a new position in shares of Medtronic in the 4th quarter worth $27,000. Acumen Wealth Advisors LLC acquired a new position in shares of Medtronic in the 4th quarter worth $29,000. IAG Wealth Partners LLC acquired a new stake in shares of Medtronic during the second quarter worth $30,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Medtronic during the third quarter worth $31,000. 82.06% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently weighed in on MDT. Rothschild & Co Redburn decreased their price target on Medtronic from $111.00 to $106.00 and set a "buy" rating for the company in a research report on Friday, June 5th. Mizuho cut their price objective on Medtronic from $120.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, June 3rd. Truist Financial reduced their price objective on shares of Medtronic from $95.00 to $86.00 and set a "hold" rating for the company in a research note on Thursday, June 4th. Wells Fargo & Company decreased their target price on shares of Medtronic from $114.00 to $102.00 and set an "overweight" rating for the company in a report on Thursday, June 4th. Finally, TD Cowen dropped their target price on shares of Medtronic from $119.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, July 10th. Eighteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.83.
Read Our Latest Research Report on MDT
Medtronic Stock Performance
Shares of Medtronic stock opened at $92.45 on Friday. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The stock has a market cap of $118.33 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.55. The business has a fifty day simple moving average of $84.12 and a 200-day simple moving average of $86.01.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.01. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.Medtronic's quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.
Medtronic Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be issued a $0.72 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's dividend payout ratio is currently 77.21%.
Insider Buying and Selling at Medtronic
In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 37,227 shares of the company's stock, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.
About Medtronic
(
Free Report)
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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