7,933 Shares in Medtronic PLC $MDT Purchased by Phillip James Consulting Co.

Phillip James Consulting Co. bought a new stake in Medtronic PLC (NYSE:MDT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,933 shares of the medical technology company’s stock, valued at approximately $687,000.

Several other large investors have also recently bought and sold shares of MDT. Madison Asset Management LLC boosted its stake 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 buying an additional 25,527 shares in the last quarter. Ticino Wealth bought a new stake in Medtronic in the fourth quarter worth about $2,049,000. First Eagle Investment Management LLC raised its position in Medtronic by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock worth $939,009,000 after acquiring an additional 40,196 shares in the last quarter. KBC Group NV lifted its holdings in Medtronic by 5.2% in the 4th quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock valued at $41,354,000 after acquiring an additional 21,384 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in Medtronic by 12.7% in the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock valued at $75,988,000 after acquiring an additional 89,111 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent research reports. Leerink Partners lowered their price objective on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Argus cut their target price on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Mizuho reduced their target price on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. Sanford C. Bernstein reduced 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. Finally, Jefferies Financial Group restated a “hold” rating and issued a $88.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.21.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’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 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 approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Medtronic Trading Down 1.2%

NYSE:MDT opened at $82.31 on Wednesday. The stock has a fifty day simple moving average of $79.79 and a 200 day simple moving average of $87.75. The firm has a market capitalization of $105.36 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (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 for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the company earned $1.62 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. 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 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. 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 dividend yield of 3.5%. The ex-dividend date was Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

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).