Zhang Financial LLC Boosts Stock Holdings in Medtronic PLC $MDT

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

A number of other hedge funds also recently added to or reduced their stakes in the company. Madison Asset Management LLC lifted its position in Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after purchasing an additional 25,527 shares during the period. Ticino Wealth bought a new stake in Medtronic in the 4th quarter worth approximately $2,049,000. First Eagle Investment Management LLC grew its position in Medtronic by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock worth $939,009,000 after purchasing an additional 40,196 shares during the period. KBC Group NV raised its stake in Medtronic by 5.2% during the 4th quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock valued at $41,354,000 after buying an additional 21,384 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in Medtronic by 12.7% during the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock valued at $75,988,000 after buying an additional 89,111 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MDT shares. The Goldman Sachs Group dropped their price target on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday. Leerink Partners reduced their price objective on Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Wells Fargo & Company lowered their target price on Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Finally, Barclays raised their target price on Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.21.

Medtronic Trading Down 0.4%

Shares of Medtronic stock opened at $83.20 on Friday. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company’s fifty day simple moving average is $79.50 and its 200-day simple moving average is $87.99. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The stock has a market capitalization of $106.50 billion, a PE ratio of 22.30, a P/E/G ratio of 2.24 and a beta of 0.56.

Medtronic (NYSE:MDT) last posted 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 return on equity of 14.51% and a net margin of 13.20%.The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same period in the prior year, the business posted $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. As a group, equities analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

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

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s 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 sale, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently 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).