Medtronic PLC $MDT Shares Acquired by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc increased its position in Medtronic PLC (NYSE:MDT) by 456.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 75,596 shares of the medical technology company’s stock after buying an additional 62,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Medtronic were worth $5,914,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Auxano Advisors LLC grew its position in Medtronic by 1.3% during the second quarter. Auxano Advisors LLC now owns 17,890 shares of the medical technology company’s stock valued at $1,400,000 after acquiring an additional 227 shares during the period. Oarsman Capital Inc. increased its stake in Medtronic by 1.9% during the second quarter. Oarsman Capital Inc. now owns 34,779 shares of the medical technology company’s stock worth $2,721,000 after acquiring an additional 634 shares during the last quarter. MidFirst Bank raised its holdings in shares of Medtronic by 0.7% in the 2nd quarter. MidFirst Bank now owns 19,910 shares of the medical technology company’s stock worth $1,558,000 after purchasing an additional 144 shares during the period. BlackRock Inc. raised its holdings in shares of Medtronic by 0.7% in the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after purchasing an additional 838,220 shares during the period. Finally, Perigon Wealth Management LLC lifted its stake in shares of Medtronic by 5.0% in the 2nd quarter. Perigon Wealth Management LLC now owns 16,891 shares of the medical technology company’s stock valued at $1,321,000 after purchasing an additional 803 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction 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 sale, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MDT. Mizuho decreased their target price on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. Needham & Company LLC restated a “buy” rating and issued a $101.00 price target on shares of Medtronic in a report on Wednesday, June 17th. Wells Fargo & Company reduced their price target on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Robert W. Baird decreased their price objective on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Finally, UBS Group raised shares of Medtronic from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $100.00 in a research report on Tuesday, July 28th. Eighteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.83.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $93.44 on Friday. The business’s 50-day simple moving average is $84.39 and its 200 day simple moving average is $86.06. The company has a market cap of $119.60 billion, a P/E ratio of 25.05, a PEG ratio of 2.47 and a beta of 0.55. 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.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share 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 firm had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the prior year, the business earned $1.62 EPS. Medtronic’s quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be paid a $0.72 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.88 annualized dividend and a dividend 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).