Diamond Hill Capital Management LLC Investment Advisor Has $131.75 Million Stock Holdings in Medtronic PLC $MDT

Diamond Hill Capital Management LLC Investment Advisor decreased its holdings in shares of Medtronic PLC (NYSE:MDT) by 15.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,684,110 shares of the medical technology company’s stock after selling 299,750 shares during the quarter. Diamond Hill Capital Management LLC Investment Advisor’s holdings in Medtronic were worth $131,748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MDT. Anfield Capital Management LLC boosted its position 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 worth $27,000 after purchasing an additional 230 shares during the last quarter. Monetary Solutions Ltd bought a new stake in Medtronic in the fourth quarter valued at about $27,000. Acumen Wealth Advisors LLC bought a new stake in Medtronic in the fourth quarter valued at about $29,000. IAG Wealth Partners LLC bought a new stake in Medtronic in the second quarter valued at about $30,000. Finally, Imprint Wealth LLC acquired a new position in Medtronic in the third quarter valued at about $31,000. Institutional investors own 82.06% of the company’s stock.

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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MDT shares. Wells Fargo & Company reduced their target price on Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Sanford C. Bernstein lowered their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $118.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Medtronic in a research note on Tuesday. Finally, BTIG Research restated a “buy” rating and set a $91.00 price objective on shares of Medtronic in a report on Tuesday. 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.83.

Medtronic Stock Performance

Shares of Medtronic stock opened at $92.45 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The firm has a market cap of $118.33 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.55. The stock’s 50-day moving average is $84.12 and its 200-day moving average is $86.01. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33.

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 analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same period last year, the company earned $1.62 earnings per share. Medtronic’s quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts predict that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio is 77.21%.

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).