Miller Howard Investments Inc. NY Grows Holdings in Medtronic PLC $MDT

Miller Howard Investments Inc. NY increased its holdings in Medtronic PLC (NYSE:MDT) by 19.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 851,494 shares of the medical technology company’s stock after acquiring an additional 136,691 shares during the period. Medtronic comprises approximately 1.8% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 15th biggest holding. Miller Howard Investments Inc. NY owned about 0.07% of Medtronic worth $66,612,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MDT. Madison Asset Management LLC increased its stake in shares of Medtronic by 15.0% during the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after purchasing an additional 25,527 shares during the last quarter. Ticino Wealth purchased a new position in Medtronic in the fourth quarter valued at approximately $2,049,000. First Eagle Investment Management LLC lifted its stake 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 valued at $939,009,000 after purchasing an additional 40,196 shares during the last quarter. Gradient Investments LLC lifted its stake in Medtronic by 3.9% in the second quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock valued at $38,842,000 after purchasing an additional 18,509 shares during the last quarter. Finally, Czech National Bank grew its holdings in Medtronic by 4.7% during the second quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock valued at $28,589,000 after purchasing an additional 16,292 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $91.10 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The firm has a market cap of $116.62 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.45 and a beta of 0.55. The business’s fifty day moving average is $83.20 and its 200 day moving average is $86.26.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the prior year, the firm posted $1.62 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Research analysts predict that Medtronic PLC will post 5.94 EPS 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 $0.72 dividend. The ex-dividend date of this dividend was Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. Medtronic’s payout ratio is currently 77.21%.

Analysts Set New Price Targets

MDT has been the topic of several research reports. Jefferies Financial Group restated a “hold” rating and issued a $88.00 target price on shares of Medtronic in a research note on Thursday, June 4th. BTIG Research reiterated a “buy” rating and set a $91.00 price target on shares of Medtronic in a research note on Monday, July 13th. Weiss Ratings lowered Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Evercore set a $105.00 price objective on Medtronic in a research note on Monday, July 6th. Finally, TD Cowen dropped their price objective on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Eighteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $98.83.

Insider Activity

In other 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 directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

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).