Peterson Wealth Services Has $1.92 Million Holdings in Medtronic PLC $MDT

Key Points

• Peterson Wealth Services increased its Medtronic stake by 191% in the fourth quarter, ending with 20,006 shares valued at about $1.92 million.
• Medtronic reported better-than-expected quarterly results, with EPS of $1.55 and revenue of $9.81 billion, while revenue rose 9.9% year over year.
• The company raised its quarterly dividend to $0.72 per share and now offers an annualized yield of 3.6%, though several analysts have recently trimmed price targets and the consensus rating remains Moderate Buy.

Peterson Wealth Services boosted its position in Medtronic PLC (NYSE:MDT - Free Report) by 191.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,006 shares of the medical technology company's stock after buying an additional 13,132 shares during the quarter. Peterson Wealth Services' holdings in Medtronic were worth $1,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Caerus Investment Advisors LLC grew its stake in Medtronic by 11.5% in the 4th quarter. Caerus Investment Advisors LLC now owns 7,439 shares of the medical technology company's stock valued at $715,000 after buying an additional 765 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. grew its stake in Medtronic by 0.8% in the 4th quarter. Woodley Farra Manion Portfolio Management Inc. now owns 46,440 shares of the medical technology company's stock valued at $4,494,000 after buying an additional 383 shares during the last quarter. Great Valley Advisor Group Inc. grew its stake in Medtronic by 3.4% in the 4th quarter. Great Valley Advisor Group Inc. now owns 24,212 shares of the medical technology company's stock valued at $2,326,000 after buying an additional 785 shares during the last quarter. Kovack Advisors Inc. grew its stake in Medtronic by 55.6% in the 4th quarter. Kovack Advisors Inc. now owns 9,786 shares of the medical technology company's stock valued at $940,000 after buying an additional 3,498 shares during the last quarter. Finally, Sepio Capital LP acquired a new position in Medtronic in the 4th quarter valued at $427,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic 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 completion of the transaction, the executive vice president directly owned 37,227 shares of the company's stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MDT shares. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $100.00 to $86.00 and set a "neutral" rating on the stock in a research note on Thursday, June 4th. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Citigroup decreased their price target on shares of Medtronic from $117.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a research report on Wednesday, June 3rd. Finally, UBS Group decreased their price target on shares of Medtronic from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Medtronic presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.00.

Medtronic Stock Performance

NYSE MDT opened at $80.28 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The firm has a market capitalization of $103.07 billion, a price-to-earnings ratio of 21.52, a P/E/G ratio of 1.95 and a beta of 0.58. The company's fifty day moving average is $80.97 and its two-hundred day moving average is $91.46. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33.

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 (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The business's quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the business posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities research analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Medtronic's previous quarterly dividend of $0.71. Medtronic's payout ratio is 76.14%.

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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