Medtronic PLC $MDT Shares Acquired by ProVise Management Group LLC

ProVise Management Group LLC increased its stake in shares of Medtronic PLC (NYSE:MDT) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,831 shares of the medical technology company’s stock after buying an additional 5,594 shares during the quarter. Medtronic comprises about 1.1% of ProVise Management Group LLC’s holdings, making the stock its 24th largest position. ProVise Management Group LLC’s holdings in Medtronic were worth $15,946,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MDT. Madison Asset Management LLC boosted its holdings in shares of Medtronic by 15.0% in the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after acquiring an additional 25,527 shares in the last quarter. Ticino Wealth purchased a new position in Medtronic during the fourth quarter worth about $2,049,000. First Eagle Investment Management LLC raised its holdings in Medtronic by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock worth $939,009,000 after purchasing an additional 40,196 shares in the last quarter. Gradient Investments LLC lifted its position in Medtronic by 3.9% in the second quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock valued at $38,842,000 after purchasing an additional 18,509 shares during the period. Finally, Czech National Bank lifted its position in Medtronic by 4.7% in the second quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock valued at $28,589,000 after purchasing an additional 16,292 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 0.9%

MDT stock opened at $90.44 on Tuesday. 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 $83.40 and its 200 day moving average price is $86.19. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a market cap of $115.77 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.45 and a beta of 0.55.

Medtronic (NYSE:MDT) last issued 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. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same period last year, the company posted $1.62 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, research analysts expect that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were issued a $0.72 dividend. The ex-dividend date was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is currently 77.21%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MDT shares. Leerink Partners lowered their price objective on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Truist Financial cut their target price on Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reduced their price target on Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Robert W. Baird dropped their price objective on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.83.

Insiders Place Their Bets

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 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 $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

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).