Strategic Financial Concepts LLC Buys Shares of 8,886 Medtronic PLC $MDT

Strategic Financial Concepts LLC purchased a new position in Medtronic PLC (NYSE:MDT) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,886 shares of the medical technology company’s stock, valued at approximately $695,000.

Several other large investors also recently made changes to their positions in the stock. Anfield Capital Management LLC increased its holdings in shares of Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 230 shares during the last quarter. Monetary Solutions Ltd acquired a new stake in Medtronic in the 4th quarter worth approximately $27,000. Acumen Wealth Advisors LLC acquired a new stake in Medtronic in the 4th quarter worth approximately $29,000. Imprint Wealth LLC bought a new stake in Medtronic during the third quarter worth approximately $31,000. Finally, Basepoint Wealth LLC bought a new stake in Medtronic during the fourth quarter worth approximately $32,000. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction on Monday, June 8th. The shares were 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 $2,994,539.88. This represents a 10.11% decrease in their position. The transaction 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 insiders.

Medtronic Price Performance

Shares of NYSE:MDT opened at $90.69 on Friday. The company has a market cap of $116.09 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 2.43 and a beta of 0.55. The business has a 50 day moving average price of $83.01 and a 200 day moving average price of $86.33. 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 twelve month low of $73.31 and a twelve month high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period in the previous year, the business posted $1.62 EPS. The company’s revenue for the quarter 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 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were paid a $0.72 dividend. The ex-dividend date was Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. Medtronic’s dividend payout ratio is 77.21%.

Analyst Ratings Changes

MDT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Weiss Ratings downgraded shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. BTIG Research reiterated a “buy” rating and issued a $91.00 target price on shares of Medtronic in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.83.

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).