DMKC Advisory Services LLC Acquires 7,503 Shares of Medtronic PLC $MDT

DMKC Advisory Services LLC increased its stake in shares of Medtronic PLC (NYSE:MDT) by 25.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,496 shares of the medical technology company’s stock after buying an additional 7,503 shares during the quarter. DMKC Advisory Services LLC’s holdings in Medtronic were worth $2,933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. Vanguard Group Inc. boosted its holdings in Medtronic by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares during the last quarter. State Street Corp raised its position in Medtronic by 2.0% in the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after purchasing an additional 1,199,621 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Medtronic by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after acquiring an additional 1,419,730 shares in the last quarter. Capital Research Global Investors raised its stake in Medtronic by 12.6% in the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after buying an additional 3,880,174 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Medtronic by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock valued at $2,665,832,000 after purchasing an additional 231,919 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 0.3%

Shares of NYSE:MDT opened at $85.98 on Thursday. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The firm has a market cap of $110.06 billion, a P/E ratio of 23.05, a P/E/G ratio of 2.31 and a beta of 0.55. The company has a 50 day moving average of $81.47 and a 200-day moving average of $86.76. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last posted 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. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the company earned $1.62 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were paid a $0.72 dividend. The ex-dividend date was Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.3%. Medtronic’s dividend payout ratio is currently 77.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. UBS Group upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $100.00 in a research report on Tuesday, July 28th. Jefferies Financial Group reaffirmed a “hold” rating and set a $88.00 price objective on shares of Medtronic in a report on Thursday, June 4th. Piper Sandler reiterated a “neutral” rating and set a $85.00 price target on shares of Medtronic in a research report on Tuesday, June 16th. Weiss Ratings lowered Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Finally, Robert W. Baird dropped their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $98.83.

Insider Activity at Medtronic

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 transaction of $336,963.16. Following the completion of the transaction, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

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).