Crawford Investment Counsel Inc. increased its holdings in shares of Medtronic PLC (NYSE:MDT – Free Report) by 0.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,361,380 shares of the medical technology company’s stock after purchasing an additional 8,318 shares during the quarter. Medtronic accounts for 2.1% of Crawford Investment Counsel Inc.’s holdings, making the stock its 7th biggest position. Crawford Investment Counsel Inc.’s holdings in Medtronic were worth $130,774,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Kemnay Advisory Services Inc. bought a new stake in Medtronic during the 4th quarter worth approximately $49,000. Captrust Financial Advisors increased its stake in Medtronic by 5.0% during the 4th quarter. Captrust Financial Advisors now owns 141,272 shares of the medical technology company’s stock worth $13,571,000 after purchasing an additional 6,754 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in Medtronic by 3.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,279,142 shares of the medical technology company’s stock worth $122,874,000 after purchasing an additional 44,592 shares in the last quarter. &PARTNERS increased its stake in Medtronic by 13.1% during the 4th quarter. &PARTNERS now owns 449,087 shares of the medical technology company’s stock worth $43,153,000 after purchasing an additional 52,081 shares in the last quarter. Finally, Peloton Wealth Strategists increased its stake in Medtronic by 7.2% during the 4th quarter. Peloton Wealth Strategists now owns 13,430 shares of the medical technology company’s stock worth $1,290,000 after purchasing an additional 900 shares in the last quarter. 82.06% of the stock is owned by institutional investors.
Insider Buying and Selling at Medtronic
In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.
Medtronic Price Performance
Medtronic (NYSE:MDT – Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. The company 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 14.61%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the business earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities research analysts forecast that Medtronic PLC will post 5.94 EPS for the current fiscal year.
Medtronic Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid 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 3.5%. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is 76.14%.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Piper Sandler reissued a “neutral” rating and set a $85.00 target price on shares of Medtronic in a research note on Tuesday. Mizuho decreased their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $118.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Finally, Truist Financial decreased their price target on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.00.
Check Out Our Latest Stock Analysis on MDT
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).
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