Dearborn Partners LLC acquired a new stake in Medtronic PLC (NYSE:MDT – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund acquired 46,112 shares of the medical technology company’s stock, valued at approximately $3,607,000.
A number of other institutional investors have also recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in Medtronic in the 2nd quarter valued at approximately $43,419,000. Strive Financial Group LLC increased its position in shares of Medtronic by 8.4% during the second quarter. Strive Financial Group LLC now owns 3,588 shares of the medical technology company’s stock worth $281,000 after acquiring an additional 279 shares during the period. Parvin Asset Management LLC purchased a new stake in shares of Medtronic during the second quarter worth $379,000. First Bancorp Inc ME acquired a new stake in shares of Medtronic in the second quarter valued at $91,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Medtronic in the second quarter valued at $3,005,000. Institutional investors and hedge funds 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 company’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 owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on MDT
Medtronic Trading Down 2.2%
MDT opened at $90.04 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The company has a market cap of $115.24 billion, a P/E ratio of 24.14, a PEG ratio of 2.47 and a beta of 0.55. The business’s 50-day simple moving average is $85.34 and its 200-day simple moving average is $85.63.
Medtronic (NYSE:MDT – Get Free Report) last posted its 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 firm had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities research analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.
Medtronic Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, September 25th. Medtronic’s payout ratio is currently 77.21%.
Medtronic News Summary
Here are the key news stories impacting Medtronic this week:
- Positive Sentiment: Needham raised its price target to $114 from $101 and reiterated a Buy rating, implying substantial upside from recent trading levels. The firm expects Medtronic to beat first-quarter estimates and raise its fiscal 2027 guidance, potentially providing a near-term catalyst. Medtronic price target raised by Needham
- Positive Sentiment: Analysts expect continued growth across Medtronic’s Cardiovascular, Neuroscience and Diabetes businesses. Cardiovascular performance and expanding renal-denervation activity are highlighted as important growth opportunities. Medtronic Q1 estimates and guidance
- Positive Sentiment: Medtronic reaffirmed its dividend trajectory, approving a $0.72-per-share fiscal 2027 second-quarter dividend. The ongoing dividend supports the stock’s appeal to income-oriented investors. Medtronic dividend update
- Positive Sentiment: Recent coverage points to strengthening device momentum and a potential rebound, while Medtronic remains viewed as a relatively inexpensive, diversified alternative to faster-growing surgical-robotics companies. Medtronic device momentum
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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