Medtronic PLC $MDT Shares Acquired by Continuum Advisory LLC

Continuum Advisory LLC raised its holdings in Medtronic PLC (NYSE:MDT) by 61.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 50,157 shares of the medical technology company’s stock after acquiring an additional 19,034 shares during the quarter. Continuum Advisory LLC’s holdings in Medtronic were worth $4,346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lodestone Wealth Management LLC acquired a new position in shares of Medtronic during the fourth quarter worth $27,000. Anfield Capital Management LLC grew its stake in Medtronic by 410.7% during the 4th 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 during the last quarter. Monetary Solutions Ltd purchased a new position in shares of Medtronic during the fourth quarter worth approximately $27,000. GoalVest Advisory LLC acquired a new position in Medtronic in the fourth quarter valued at $29,000. Finally, Board of the Pension Protection Fund acquired a new position in Medtronic in the 4th quarter valued at about $29,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In related 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 value of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $80.94 on Monday. The company’s fifty day simple moving average is $79.39 and its 200-day simple moving average is $89.66. The company has a market cap of $103.60 billion, a PE ratio of 21.70, a P/E/G ratio of 2.17 and a beta of 0.58. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (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 business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same quarter last year, the firm earned $1.62 earnings per share. The company’s revenue for the quarter 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 anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be issued 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 yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MDT shares. Robert W. Baird cut their price objective on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Mizuho decreased their target price on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a research report on Wednesday, June 3rd. UBS Group decreased their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Finally, Truist Financial lowered their target price 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. Seventeen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.00.

About Medtronic

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).