Equitable Trust Co. Purchases 44,771 Shares of Medtronic PLC $MDT

Equitable Trust Co. raised its position in Medtronic PLC (NYSE:MDT) by 67.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 111,423 shares of the medical technology company’s stock after buying an additional 44,771 shares during the period. Equitable Trust Co.’s holdings in Medtronic were worth $9,655,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Curbstone Financial Management Corp grew its holdings in shares of Medtronic by 1.8% in the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after acquiring an additional 100 shares in the last quarter. New England Capital Financial Advisors LLC increased its position in shares of Medtronic by 7.8% during the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after acquiring an additional 101 shares during the last quarter. Ipsen Advisor Group LLC lifted its holdings in Medtronic by 1.7% during the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock worth $572,000 after acquiring an additional 101 shares during the period. Quadrant Capital Group LLC lifted its holdings in Medtronic by 0.3% during the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after acquiring an additional 101 shares during the period. Finally, Baker Tilly Wealth Management LLC boosted its position in Medtronic by 3.3% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock worth $309,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MDT. Mizuho reduced their price objective on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. lowered their target price on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. TD Cowen reissued a “buy” rating and issued a $119.00 price target on shares of Medtronic in a report on Thursday, June 4th. Wells Fargo & Company reduced their price target on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Finally, Sanford C. Bernstein decreased their price objective 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. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.96.

Insider Buying and Selling

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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Medtronic Trading Up 0.4%

Shares of MDT opened at $82.37 on Friday. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The business has a 50-day moving average of $79.02 and a 200 day moving average of $88.56. The firm has a market cap of $105.44 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 2.20 and a beta of 0.56. 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 (NYSE:MDT) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is currently 77.21%.

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).