Phillip James Consulting Co. Makes New $687,000 Investment in Medtronic PLC $MDT

Phillip James Consulting Co. bought a new stake in shares of Medtronic PLC (NYSE:MDT) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,933 shares of the medical technology company’s stock, valued at approximately $687,000.

A number of other large investors also recently made changes to their positions in the business. ABN Amro Investment Solutions purchased a new stake in shares of Medtronic in the first quarter worth approximately $7,544,000. PNC Financial Services Group Inc. grew its position in Medtronic by 2.7% during the first quarter. PNC Financial Services Group Inc. now owns 658,800 shares of the medical technology company’s stock valued at $57,085,000 after purchasing an additional 17,089 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new position in Medtronic in the 1st quarter valued at approximately $497,000. Madison Asset Management LLC increased its stake in Medtronic by 25.0% in the 1st quarter. Madison Asset Management LLC now owns 244,000 shares of the medical technology company’s stock valued at $21,143,000 after buying an additional 48,784 shares during the period. Finally, Convergence Investment Partners LLC increased its stake in Medtronic by 82.8% in the 1st quarter. Convergence Investment Partners LLC now owns 46,789 shares of the medical technology company’s stock valued at $4,054,000 after buying an additional 21,196 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $82.31 on Wednesday. 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 stock has a market capitalization of $105.36 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. The company has a 50 day moving average price of $79.79 and a two-hundred day moving average price of $87.75. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping 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%. Medtronic’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities analysts predict that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders 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 annualized dividend and a yield of 3.5%. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MDT. Weiss Ratings lowered shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Mizuho dropped their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Robert W. Baird cut their price objective on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, The Goldman Sachs Group reduced their price objective on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $98.21.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by 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).