Independent Financial Group LLC Invests $856,000 in Medtronic PLC $MDT

Independent Financial Group LLC acquired a new position in shares of Medtronic PLC (NYSE:MDT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,879 shares of the medical technology company’s stock, valued at approximately $856,000.

Several other institutional investors have also recently bought and sold shares of MDT. Madison Asset Management LLC increased its position in 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 acquiring an additional 25,527 shares during the period. Ticino Wealth bought a new stake in Medtronic in the 4th quarter valued at $2,049,000. First Eagle Investment Management LLC boosted its holdings in Medtronic by 0.4% in the 4th 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 period. KBC Group NV grew its position in Medtronic by 5.2% in the 4th quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock worth $41,354,000 after purchasing an additional 21,384 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Medtronic by 12.7% in the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock worth $75,988,000 after purchasing an additional 89,111 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of Medtronic stock opened at $82.31 on Wednesday. The firm has a market cap of $105.36 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. The firm’s 50-day simple moving average is $79.79 and its 200-day simple moving average is $87.75. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. 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 posted its quarterly 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. 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, research analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

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

Insider Activity

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 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 owned 37,227 shares in the company, valued at $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 available through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on MDT shares. Argus cut their price objective on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Needham & Company LLC restated a “buy” rating and set a $101.00 price target on shares of Medtronic in a research note on Wednesday, June 17th. The Goldman Sachs Group cut their price target on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Sanford C. Bernstein reduced their price objective on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $85.00 price objective on shares of Medtronic in a research report on Tuesday, June 16th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Medtronic 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).