6,184 Shares in Medtronic PLC $MDT Purchased by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC acquired a new position in shares of Medtronic PLC (NYSE:MDT) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 6,184 shares of the medical technology company’s stock, valued at approximately $536,000.

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC grew its position in Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after purchasing an additional 381 shares in the last quarter. Jump Financial LLC purchased a new position in Medtronic during the 2nd quarter worth approximately $299,000. Main Street Financial Solutions LLC grew its position in Medtronic by 28.9% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock worth $1,251,000 after purchasing an additional 3,218 shares in the last quarter. Finally, HUB Investment Partners LLC raised its stake in Medtronic by 21.3% during the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after purchasing an additional 3,376 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Medtronic Stock Down 2.1%

MDT stock opened at $85.74 on Friday. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. 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 company has a market cap of $109.75 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 2.35 and a beta of 0.56. The company has a 50 day moving average of $80.80 and a two-hundred day moving average of $87.08.

Medtronic (NYSE:MDT) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same quarter last year, the business posted $1.62 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a dividend of $0.72 per share. The ex-dividend date of this dividend 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 yield of 3.4%. Medtronic’s payout ratio is 77.21%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MDT. Wells Fargo & Company reduced their target price on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company 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 report on Tuesday, June 16th. Citigroup dropped their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Truist Financial reduced their price objective on Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Finally, Robert W. Baird decreased their price objective on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.83.

Medtronic 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).