Greenup Street Wealth Management LLC Has $3.08 Million Position in Medtronic PLC $MDT

Greenup Street Wealth Management LLC increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 119.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,492 shares of the medical technology company’s stock after purchasing an additional 19,325 shares during the period. Greenup Street Wealth Management LLC’s holdings in Medtronic were worth $3,075,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MDT. BTC Capital Management Inc. increased its stake in Medtronic by 33.2% during the 1st quarter. BTC Capital Management Inc. now owns 72,184 shares of the medical technology company’s stock worth $6,252,000 after purchasing an additional 18,006 shares in the last quarter. Davis Investment Partners LLC bought a new position in Medtronic in the first quarter valued at approximately $672,000. RFG Advisory LLC lifted its stake in Medtronic by 1.7% in the first quarter. RFG Advisory LLC now owns 25,586 shares of the medical technology company’s stock valued at $2,217,000 after buying an additional 439 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Medtronic by 6.9% in the first quarter. Fifth Third Wealth Advisors LLC now owns 23,181 shares of the medical technology company’s stock valued at $2,009,000 after buying an additional 1,489 shares during the period. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Medtronic by 33.5% in the first quarter. Banque Cantonale Vaudoise now owns 67,616 shares of the medical technology company’s stock valued at $5,859,000 after buying an additional 16,967 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 4,189 shares of the 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 in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MDT. The Goldman Sachs Group lowered their price objective on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Daiwa Securities Group reduced their target price on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Rothschild & Co Redburn lowered their target price on Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a report on Friday, June 5th. Finally, Citigroup dropped their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Medtronic Price Performance

Shares of MDT opened at $80.16 on Thursday. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The stock has a market capitalization of $102.61 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.16 and a beta of 0.58. The company has a 50 day moving average of $79.67 and a 200-day moving average of $89.95.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the previous year, the firm posted $1.62 earnings per share. The firm’s revenue for the quarter 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 research analysts forecast that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a dividend of $0.72 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.6%. Medtronic’s payout ratio is presently 76.14%.

Medtronic 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).