Medtronic PLC $MDT Shares Purchased by Park National Corp OH

Park National Corp OH boosted its holdings in Medtronic PLC (NYSE:MDT) by 21.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 115,359 shares of the medical technology company’s stock after acquiring an additional 20,569 shares during the quarter. Park National Corp OH’s holdings in Medtronic were worth $9,996,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MDT. Monetary Solutions Ltd acquired a new position in shares of Medtronic during the 4th quarter worth $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Medtronic in the 4th quarter valued at about $27,000. Anfield Capital Management LLC increased its holdings 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 valued at $27,000 after purchasing an additional 230 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic in the fourth quarter valued at about $29,000. Finally, GoalVest Advisory LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MDT. JPMorgan Chase & Co. decreased their price objective 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. The Goldman Sachs Group dropped their target price on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Mizuho reduced their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Rothschild & Co Redburn decreased their price target on Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Finally, Piper Sandler restated a “neutral” rating and issued a $85.00 price target on shares of Medtronic in a report on Tuesday. Seventeen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Medtronic Trading Up 0.0%

NYSE:MDT opened at $79.37 on Friday. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $80.13 and a 200-day simple moving average of $90.50. The company has a market capitalization of $101.90 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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 net margin of 13.20% and a return on equity of 14.61%. The firm had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the prior year, the company earned $1.62 EPS. The firm’s 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, equities research analysts expect that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be given a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is currently 76.14%.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by corporate 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).