Davis Investment Partners LLC Makes New $672,000 Investment in Medtronic PLC $MDT

Davis Investment Partners LLC acquired a new position in Medtronic PLC (NYSE:MDT) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,761 shares of the medical technology company’s stock, valued at approximately $672,000.

Several other hedge funds and other institutional investors have also modified their holdings of MDT. Vanguard Group Inc. increased its position in Medtronic by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after purchasing an additional 1,888,381 shares in the last quarter. State Street Corp lifted its position in Medtronic by 2.0% during the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after buying an additional 1,199,621 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Medtronic by 2.7% during the fourth quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock valued at $5,150,420,000 after buying an additional 1,419,730 shares in the last quarter. Capital Research Global Investors lifted its position in Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after buying an additional 3,880,174 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Medtronic by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after buying an additional 231,919 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent research reports. UBS Group dropped their price objective on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. The Goldman Sachs Group cut their price objective on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Finally, BTIG Research upgraded Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Wednesday, June 3rd. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Medtronic Stock Performance

Shares of Medtronic stock opened at $80.16 on Thursday. The firm has a market cap of $102.61 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58. The firm’s 50-day simple moving average is $79.67 and its 200-day simple moving average is $89.95. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.87 and a current ratio of 2.13. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33.

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

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is 76.14%.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction that occurred on Monday, June 8th. The stock was 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 trade represents a 10.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

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).