Murphy Middleton Hinkle & Parker Inc. Boosts Stock Position in Medtronic PLC $MDT

Murphy Middleton Hinkle & Parker Inc. grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 125.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,963 shares of the medical technology company’s stock after purchasing an additional 6,653 shares during the quarter. Murphy Middleton Hinkle & Parker Inc.’s holdings in Medtronic were worth $1,149,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Artisan Partners Limited Partnership increased its position in Medtronic by 2.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after buying an additional 31,314 shares during the last quarter. CSM Advisors LLC raised its stake in shares of Medtronic by 13.2% in the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after buying an additional 33,167 shares during the period. UMB Bank n.a. lifted its position in shares of Medtronic by 65.8% during the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock valued at $13,170,000 after buying an additional 54,898 shares during the last quarter. Applied Finance Capital Management LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at $1,308,000. Finally, SageView Advisory Group LLC grew its stake in shares of Medtronic by 164.8% during the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock worth $2,305,000 after acquiring an additional 15,062 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MDT. CICC Research initiated coverage on Medtronic in a report on Friday, January 30th. They issued an “outperform” rating for the company. Daiwa Securities Group dropped their price objective on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 target price on shares of Medtronic in a research report on Tuesday, March 10th. Robert W. Baird reduced their target price on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Finally, Citigroup initiated coverage on shares of Medtronic in a research report on Tuesday, February 3rd. They issued a “buy” rating and a $117.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus price target of $110.74.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 52,524 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the sale, the executive vice president owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. This represents a 61.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $87.24 on Tuesday. The stock’s 50-day simple moving average is $96.63 and its 200 day simple moving average is $96.69. The stock has a market capitalization of $112.01 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 2.21 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. Medtronic PLC has a 52-week low of $79.55 and a 52-week high of $106.33.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The business had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the firm earned $1.38 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.3%. Medtronic’s payout ratio is currently 79.11%.

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).