Decker Wealth Management LLC Invests $5.08 Million in Medtronic PLC $MDT

Decker Wealth Management LLC bought a new position in shares of Medtronic PLC (NYSE:MDT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,614 shares of the medical technology company’s stock, valued at approximately $5,079,000.

Other hedge funds have also recently bought and sold shares of the company. Lodestone Wealth Management LLC acquired a new position in Medtronic during the fourth quarter valued at approximately $27,000. Anfield Capital Management LLC increased its position in shares of 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 acquiring an additional 230 shares in the last quarter. Monetary Solutions Ltd acquired a new stake in shares of Medtronic in the fourth quarter worth $27,000. Acumen Wealth Advisors LLC purchased a new position in shares of Medtronic in the 4th quarter valued at $29,000. Finally, Imprint Wealth LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research reports. Rothschild & Co Redburn decreased their price target on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Argus cut their price objective on Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Barclays boosted their price objective on Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. TD Cowen decreased their target price on Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Finally, Stifel Nicolaus set a $80.00 target price on Medtronic in a research report on Wednesday, June 3rd. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.21.

Insider Buying and Selling at Medtronic

In other 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 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 Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

Medtronic Price Performance

Shares of MDT stock opened at $83.20 on Monday. The company has a market capitalization of $106.50 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. The firm has a fifty day simple moving average of $79.50 and a 200-day simple moving average of $87.94. 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 PLC has a twelve month low of $73.31 and a twelve month high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the business earned $1.62 EPS. The business’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 company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is currently 77.21%.

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).