Medtronic PLC $MDT Shares Purchased by Randolph Co Inc

Randolph Co Inc increased its stake in shares of Medtronic PLC (NYSE:MDT) by 4.8% in the first quarter, HoldingsChannel.com reports. The firm owned 309,011 shares of the medical technology company’s stock after buying an additional 14,183 shares during the period. Medtronic accounts for approximately 2.6% of Randolph Co Inc’s portfolio, making the stock its 23rd largest holding. Randolph Co Inc’s holdings in Medtronic were worth $26,776,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Curbstone Financial Management Corp grew its stake in shares of Medtronic by 1.8% in the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after buying an additional 100 shares in the last quarter. New England Capital Financial Advisors LLC boosted its holdings in Medtronic by 7.8% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after acquiring an additional 101 shares during the period. Ipsen Advisor Group LLC boosted its holdings in Medtronic by 1.7% during the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after acquiring an additional 101 shares during the period. Quadrant Capital Group LLC increased its stake in Medtronic by 0.3% during the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after purchasing an additional 101 shares during the period. Finally, Baker Tilly Wealth Management LLC lifted its position in shares of Medtronic by 3.3% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock worth $309,000 after purchasing an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.4%

NYSE MDT opened at $79.32 on Thursday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The firm has a 50 day moving average of $79.02 and a two-hundred day moving average of $89.23. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $101.53 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.10 and a beta of 0.56.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. The business had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, research analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is currently 77.21%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MDT. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Leerink Partners reduced their target price on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. BTIG Research raised shares of Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. dropped their price target on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $101.00 price objective on shares of Medtronic in a research report on Wednesday, June 17th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $99.00.

About Medtronic

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).