Decker Wealth Management LLC Buys Shares of 58,614 Medtronic PLC $MDT

Decker Wealth Management LLC bought a new stake in shares of Medtronic PLC (NYSE:MDT) in the 1st quarter, HoldingsChannel.com reports. The firm bought 58,614 shares of the medical technology company’s stock, valued at approximately $5,079,000.

A number of other hedge funds have also made changes to their positions in MDT. Madison Asset Management LLC lifted its position in shares of Medtronic by 15.0% during the fourth 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 acquired a new position in Medtronic in the fourth quarter worth about $2,049,000. First Eagle Investment Management LLC increased its holdings 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 buying an additional 40,196 shares during the last quarter. KBC Group NV increased its holdings in Medtronic by 5.2% in the fourth quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock valued at $41,354,000 after buying an additional 21,384 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in Medtronic by 12.7% during the fourth quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock valued at $75,988,000 after buying an additional 89,111 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was 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 approximately $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Down 0.0%

MDT stock opened at $83.20 on Monday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The firm’s 50-day simple moving average is $79.50 and its 200 day simple moving average is $87.94. The stock has a market cap of $106.50 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating 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%. Medtronic’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays increased their target price on Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, April 1st. Sanford C. Bernstein lowered their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Jefferies Financial Group reissued a “hold” rating and set a $88.00 price target on shares of Medtronic in a research report on Thursday, June 4th. The Goldman Sachs Group reduced their price objective on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Finally, Evercore set a $105.00 price objective on shares of Medtronic in a report on Monday, July 6th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.21.

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).