Global Retirement Partners LLC Buys New Shares in Medtronic PLC $MDT

Global Retirement Partners LLC purchased a new stake in shares of Medtronic PLC (NYSE:MDT) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 59,031 shares of the medical technology company’s stock, valued at approximately $4,618,000.

Other institutional investors have also recently made changes to their positions in the company. Anfield Capital Management LLC grew its stake in shares of Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 230 shares during the period. Monetary Solutions Ltd purchased a new stake in Medtronic in the 4th quarter worth approximately $27,000. Acumen Wealth Advisors LLC bought a new stake in Medtronic during the 4th quarter worth approximately $29,000. IAG Wealth Partners LLC bought a new stake in Medtronic during the 2nd quarter worth approximately $30,000. Finally, Imprint Wealth LLC purchased a new position in Medtronic during the third quarter valued at approximately $31,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MDT. JPMorgan Chase & Co. dropped their price target on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Mizuho decreased their price objective on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Medtronic in a research note on Tuesday. Leerink Partners dropped their target price on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Finally, Stifel Nicolaus set a $80.00 price target on Medtronic in a research note on Wednesday, June 3rd. Eighteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.83.

Medtronic Price Performance

MDT stock opened at $92.45 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The company’s fifty day moving average price is $84.12 and its 200-day moving average price is $86.01. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The company has a market capitalization of $118.33 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.55.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. Medtronic’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is presently 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 sale, the executive vice president directly owned 37,227 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

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).