Peterson Wealth Services Purchases 13,132 Shares of Medtronic PLC $MDT

Peterson Wealth Services boosted its position in shares of Medtronic PLC (NYSE:MDT) by 191.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,006 shares of the medical technology company’s stock after purchasing an additional 13,132 shares during the period. Peterson Wealth Services’ holdings in Medtronic were worth $1,922,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Lodestone Wealth Management LLC bought a new position in shares of Medtronic in the fourth quarter worth about $27,000. Anfield Capital Management LLC raised its stake 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 worth $27,000 after acquiring an additional 230 shares during the last quarter. Board of the Pension Protection Fund bought a new position in shares of Medtronic in the fourth quarter worth about $29,000. GoalVest Advisory LLC bought a new position in shares of Medtronic in the fourth quarter worth about $29,000. Finally, Imprint Wealth LLC bought a new position in shares of Medtronic in the third quarter worth about $31,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Mizuho dropped their target price on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Sanford C. Bernstein lowered their price target on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Finally, Daiwa Securities Group lowered their price target on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Seventeen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Medtronic Stock Up 0.0%

Shares of NYSE:MDT opened at $80.28 on Friday. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The company has a 50 day moving average of $80.97 and a 200-day moving average of $91.46. 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 stock has a market cap 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.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the previous year, the company earned $1.62 EPS. Medtronic’s revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be issued a dividend of $0.72 per share. 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 is Friday, June 26th. Medtronic’s dividend payout ratio is presently 76.14%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

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).