Crawford Investment Counsel Inc. Buys 8,318 Shares of Medtronic PLC $MDT

Crawford Investment Counsel Inc. raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,361,380 shares of the medical technology company’s stock after purchasing an additional 8,318 shares during the period. Medtronic accounts for approximately 2.1% of Crawford Investment Counsel Inc.’s holdings, making the stock its 7th biggest holding. Crawford Investment Counsel Inc. owned about 0.11% of Medtronic worth $130,774,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MDT. Brighton Jones LLC lifted its position in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares during the period. Sivia Capital Partners LLC lifted its position in Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after purchasing an additional 381 shares during the period. Jump Financial LLC acquired a new position in Medtronic during the 2nd quarter valued at about $299,000. Main Street Financial Solutions LLC lifted its position in Medtronic by 28.9% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after purchasing an additional 3,218 shares during the period. Finally, HUB Investment Partners LLC lifted its position in Medtronic by 21.3% during the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after purchasing an additional 3,376 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In related 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 value of $336,963.16. Following the sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by corporate insiders.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $81.36 on Wednesday. The company has a market capitalization of $104.45 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 2.16 and a beta of 0.58. The firm’s 50 day simple moving average is $80.62 and its 200 day simple moving average is $90.95. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. Medtronic’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the company posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a $0.72 dividend. The ex-dividend date is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is 76.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Argus cut their target price on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Robert W. Baird cut their target price on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Stifel Nicolaus set a $80.00 target price on shares of Medtronic in a research report on Wednesday, June 3rd. Mizuho cut their target price on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Finally, Evercore set a $106.00 target price on shares of Medtronic and gave the company an “outperform” rating in a research report on Thursday, April 9th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $99.00.

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).