Entropy Technologies LP Buys New Shares in Medtronic PLC $MDT

Entropy Technologies LP purchased a new stake in Medtronic PLC (NYSE:MDT) during the 1st quarter, Holdings Channel reports. The firm purchased 203,577 shares of the medical technology company’s stock, valued at approximately $17,640,000. Medtronic makes up about 0.8% of Entropy Technologies LP’s portfolio, making the stock its 10th biggest holding.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Medtronic by 1,368.0% in the fourth 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 during the last quarter. Sivia Capital Partners LLC raised its holdings in Medtronic by 9.6% during the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after acquiring an additional 381 shares in the last quarter. Jump Financial LLC acquired a new position in Medtronic during the second quarter valued at approximately $299,000. Main Street Financial Solutions LLC boosted its position in Medtronic by 28.9% during the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after purchasing an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC grew its stake in Medtronic by 21.3% in the second 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 in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MDT shares. Weiss Ratings cut Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Barclays raised their target price on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. TD Cowen lowered their target price on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Rothschild & Co Redburn dropped their price target on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Finally, UBS Group cut their price target on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.21.

Medtronic Trading Up 1.4%

MDT stock opened at $83.12 on Friday. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The stock has a market cap of $106.40 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 2.20 and a beta of 0.56. The company has a fifty day moving average price of $80.15 and a two-hundred day moving average price of $87.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62.

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

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were issued a $0.72 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.5%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is currently 77.21%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

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).