Davis Investment Partners LLC Takes $672,000 Position in Medtronic PLC $MDT

Davis Investment Partners LLC purchased a new position in shares of Medtronic PLC (NYSE:MDT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,761 shares of the medical technology company’s stock, valued at approximately $672,000.

A number of other institutional investors and hedge funds have also modified their holdings of MDT. Lodestone Wealth Management LLC purchased a new position in Medtronic in the 4th quarter valued at approximately $27,000. Anfield Capital Management LLC boosted its position in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares in the last quarter. Monetary Solutions Ltd purchased a new stake in Medtronic during the fourth quarter worth $27,000. Board of the Pension Protection Fund acquired a new stake in Medtronic in the fourth quarter valued at $29,000. Finally, GoalVest Advisory LLC acquired a new stake in Medtronic in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 0.6%

NYSE MDT opened at $80.16 on Thursday. The company has a market cap 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. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.87. The company has a 50-day moving average of $79.67 and a 200-day moving average of $89.95.

Medtronic (NYSE:MDT) last released its earnings results 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 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 analysts’ expectations of $9.62 billion. During the same period last year, the company earned $1.62 earnings per share. The company’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. As a group, equities analysts predict 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 will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid 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 yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s payout ratio is 76.14%.

Analyst Ratings Changes

Several research analysts have recently issued reports on MDT shares. Barclays lifted their price target on Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Argus lowered their price objective on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Weiss Ratings downgraded shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. UBS Group cut their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Finally, The Goldman Sachs Group reduced their price target on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction 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 transaction, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by company 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).