Medtronic PLC $MDT Holdings Increased by Willis Investment Counsel

Willis Investment Counsel lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 414,539 shares of the medical technology company’s stock after acquiring an additional 22,491 shares during the quarter. Medtronic comprises about 1.5% of Willis Investment Counsel’s investment portfolio, making the stock its 22nd biggest holding. Willis Investment Counsel’s holdings in Medtronic were worth $32,429,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in 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 during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after purchasing an additional 381 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Medtronic in the 2nd quarter worth approximately $299,000. Main Street Financial Solutions LLC lifted its stake 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 position 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 worth $1,676,000 after buying an additional 3,376 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDT has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Royal Bank Of Canada reissued an “outperform” rating and issued a $118.00 price target on shares of Medtronic in a research note on Thursday, June 4th. JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Finally, Truist Financial reduced their price target on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $98.83.

Medtronic Trading Down 0.9%

Shares of NYSE:MDT opened at $90.44 on Tuesday. The stock has a market capitalization of $115.77 billion, a PE ratio of 24.25, a P/E/G ratio of 2.45 and a beta of 0.55. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The firm has a fifty day moving average price of $83.40 and a 200 day moving average price of $86.19. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last posted its earnings results 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. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the company earned $1.62 earnings per share. The business’s 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. Analysts expect that Medtronic PLC will post 5.94 EPS 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 issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is currently 77.21%.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’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 transaction, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Corporate 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).