Shelton Wealth Management LLC Invests $1.05 Million in Medtronic PLC $MDT

Shelton Wealth Management LLC purchased a new stake in shares of Medtronic PLC (NYSE:MDT) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,152 shares of the medical technology company’s stock, valued at approximately $1,053,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Monetary Solutions Ltd bought a new stake in shares of Medtronic in the fourth quarter worth approximately $27,000. Lodestone Wealth Management LLC purchased a new stake in Medtronic during the 4th quarter valued at $27,000. Anfield Capital Management LLC boosted its stake in shares of Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after buying an additional 230 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Medtronic in the fourth quarter worth $29,000. Finally, GoalVest Advisory LLC purchased a new stake in Medtronic during the fourth quarter valued at $29,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of MDT traded up $1.50 during trading hours on Tuesday, reaching $84.56. 2,674,811 shares of the stock traded hands, compared to its average volume of 9,337,921. The company has a market cap of $108.24 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $79.04 and its two-hundred day moving average price is $89.00. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.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 firm earned $1.62 earnings per share. The business’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. On average, analysts anticipate that Medtronic PLC will post 5.94 earnings per share 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 issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is presently 77.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MDT shares. Royal Bank Of Canada restated an “outperform” rating and set a $118.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Barclays boosted their price objective on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. 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 note on Thursday, June 4th. Citigroup cut their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $88.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.96.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.

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).