Zhang Financial LLC Acquires 12,259 Shares of Medtronic PLC $MDT

Zhang Financial LLC lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 27.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 56,984 shares of the medical technology company’s stock after acquiring an additional 12,259 shares during the period. Zhang Financial LLC’s holdings in Medtronic were worth $4,458,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. New England Capital Financial Advisors LLC grew its position in Medtronic by 7.8% in the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after acquiring an additional 101 shares during the last quarter. Ipsen Advisor Group LLC raised its stake in Medtronic by 1.7% during the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock worth $572,000 after acquiring an additional 101 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Medtronic by 0.3% in the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after acquiring an additional 101 shares during the last quarter. Rossby Financial LCC lifted its holdings in shares of Medtronic by 5.1% in the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock worth $211,000 after acquiring an additional 107 shares during the last quarter. Finally, Wealthspire Retirement LLC boosted its stake in shares of Medtronic by 5.0% in the 4th quarter. Wealthspire Retirement LLC now owns 2,410 shares of the medical technology company’s stock valued at $232,000 after purchasing an additional 114 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of Medtronic stock opened at $91.10 on Friday. The stock has a market cap of $116.62 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 2.45 and a beta of 0.55. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company’s fifty day moving average is $83.20 and its 200 day moving average is $86.36. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last announced its 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 business had revenue of $9.81 billion during 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 revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts forecast 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. Investors of record on Friday, June 26th were paid a $0.72 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s payout ratio is presently 77.21%.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was 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 $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $101.00 price target on shares of Medtronic in a report on Wednesday, June 17th. Rothschild & Co Redburn cut their target price on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Wells Fargo & Company decreased their target price on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $118.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Finally, 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. Eighteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $98.83.

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).