Davis R M Inc. Acquires 11,040 Shares of Medtronic PLC $MDT

Davis R M Inc. boosted its holdings in shares of Medtronic PLC (NYSE:MDT) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 281,484 shares of the medical technology company’s stock after purchasing an additional 11,040 shares during the quarter. Davis R M Inc.’s holdings in Medtronic were worth $24,579,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC bought a new position in Medtronic in the 4th quarter worth approximately $27,000. Anfield Capital Management LLC boosted its position 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 valued at $27,000 after acquiring an additional 230 shares during the period. Monetary Solutions Ltd bought a new stake in shares of Medtronic in the fourth quarter valued at approximately $27,000. Acumen Wealth Advisors LLC bought a new stake in shares of Medtronic in the fourth quarter valued at approximately $29,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Medtronic in the third quarter worth $31,000. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the transaction, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $82.00 on Thursday. The firm has a market capitalization of $104.97 billion, a PE ratio of 21.98, a PEG ratio of 2.21 and a beta of 0.56. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The business’s 50 day moving average is $79.90 and its 200-day moving average is $87.65.

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

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were paid a $0.72 dividend. The ex-dividend date was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is currently 77.21%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDT. Mizuho dropped their target price 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. Rothschild & Co Redburn reduced their price target on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a report on Friday, June 5th. Needham & Company LLC restated a “buy” rating and issued a $101.00 price target on shares of Medtronic in a research report on Wednesday, June 17th. UBS Group decreased their price target on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.21.

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).