Dynamic Advisor Solutions LLC Grows Stock Position in Medtronic PLC $MDT

Dynamic Advisor Solutions LLC increased its stake in shares of Medtronic PLC (NYSE:MDT) by 54.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,591 shares of the medical technology company’s stock after purchasing an additional 9,681 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Medtronic were worth $2,158,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Anfield Capital Management LLC boosted its stake in shares of Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares during the period. Monetary Solutions Ltd purchased a new stake in shares of Medtronic during the fourth quarter worth approximately $27,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Medtronic during the fourth quarter worth approximately $29,000. Imprint Wealth LLC purchased a new stake in shares of Medtronic during the third quarter worth approximately $31,000. Finally, Basepoint Wealth LLC acquired a new stake in Medtronic in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MDT shares. Sanford C. Bernstein decreased their price target on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. Stifel Nicolaus set a $80.00 price objective on shares of Medtronic in a report on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $88.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. Finally, Mizuho lowered their target price on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Eighteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.83.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

Medtronic Price Performance

MDT stock opened at $87.14 on Friday. The business has a 50 day moving average price of $81.94 and a 200 day moving average price of $86.68. 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 cap of $111.54 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 2.30 and a beta of 0.55. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week 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, beating the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period in the prior year, the firm posted $1.62 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities research analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a $0.72 dividend. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.3%. Medtronic’s payout ratio is 77.21%.

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).