Zhang Financial LLC Raises Holdings in Medtronic PLC $MDT

Zhang Financial LLC increased its stake in shares of Medtronic PLC (NYSE:MDT) by 26.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,725 shares of the medical technology company’s stock after acquiring an additional 9,311 shares during the quarter. Zhang Financial LLC’s holdings in Medtronic were worth $3,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lodestone Wealth Management LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $27,000. Anfield Capital Management LLC increased 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 buying an additional 230 shares during the period. Monetary Solutions Ltd purchased a new position in shares of Medtronic in the fourth quarter worth $27,000. GoalVest Advisory LLC bought a new stake in Medtronic during the 4th quarter valued at $29,000. Finally, Board of the Pension Protection Fund bought a new stake in Medtronic during the 4th quarter valued at $29,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the subject of several analyst reports. Leerink Partners dropped their price target on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Piper Sandler reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Medtronic in a research note on Tuesday, June 16th. Sanford C. Bernstein dropped their target price on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Citigroup cut their target price on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Finally, Robert W. Baird reduced their price target on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.21.

Medtronic Stock Down 0.4%

Shares of Medtronic stock opened at $83.20 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $79.50 and its two-hundred day simple moving average is $87.99. The company has a market cap of $106.50 billion, a P/E ratio of 22.30, a PEG ratio of 2.24 and a beta of 0.56. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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 14.51%. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the business posted $1.62 earnings per share. Medtronic’s quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Research analysts anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were issued a dividend of $0.72 per share. The ex-dividend date was Friday, June 26th. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.5%. Medtronic’s dividend payout ratio is 77.21%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by insiders.

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).