Entropy Technologies LP Acquires New Shares in Medtronic PLC $MDT

Entropy Technologies LP bought a new stake in Medtronic PLC (NYSE:MDT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 203,577 shares of the medical technology company’s stock, valued at approximately $17,640,000. Medtronic accounts for about 0.8% of Entropy Technologies LP’s holdings, making the stock its 10th biggest position.

Several other institutional investors also recently modified their holdings of MDT. Monetary Solutions Ltd bought a new position in Medtronic during the 4th quarter worth approximately $27,000. Lodestone Wealth Management LLC bought a new stake in Medtronic in the fourth quarter valued at approximately $27,000. Anfield Capital Management LLC raised its holdings in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares during the period. Acumen Wealth Advisors LLC acquired a new stake in Medtronic in the fourth quarter worth $29,000. Finally, Imprint Wealth LLC bought a new position in shares of Medtronic during the third quarter worth $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Medtronic Trading Up 1.4%

Shares of NYSE:MDT opened at $83.12 on Friday. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. 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 company’s fifty day simple moving average is $80.15 and its 200 day simple moving average is $87.52. The firm has a market cap of $106.40 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 2.20 and a beta of 0.56.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, research analysts forecast 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. Stockholders of record on Friday, June 26th were given a dividend of $0.72 per share. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s payout ratio is currently 77.21%.

Analyst Ratings Changes

Several brokerages have recently issued reports on MDT. Piper Sandler reissued a “neutral” rating and issued a $85.00 price target on shares of Medtronic in a report on Tuesday, June 16th. Stifel Nicolaus set a $80.00 target price on Medtronic in a report on Wednesday, June 3rd. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. BTIG Research restated a “buy” rating and issued a $91.00 price target on shares of Medtronic in a report on Monday, July 13th. Finally, Weiss Ratings lowered Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.21.

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).