Integrity Alliance LLC. bought a new stake in Medtronic PLC (NYSE:MDT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,317 shares of the medical technology company's stock, valued at approximately $1,107,000.
A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Medtronic by 0.7% in the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock valued at $11,233,780,000 after acquiring an additional 810,854 shares during the period. Massachusetts Financial Services Co. MA increased its position in Medtronic by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock worth $2,001,903,000 after buying an additional 1,461,841 shares in the last quarter. Bank of New York Mellon Corp increased its position in Medtronic by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock worth $1,858,332,000 after buying an additional 756,192 shares in the last quarter. Deutsche Bank AG increased its position in Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock worth $1,708,220,000 after buying an additional 566,155 shares in the last quarter. Finally, Invesco Ltd. increased its position in Medtronic by 9.9% in the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock worth $1,525,876,000 after buying an additional 1,535,308 shares in the last quarter. Institutional investors own 82.06% of the company's stock.
Medtronic Price Performance
NYSE MDT traded down $0.56 during trading on Monday, hitting $93.48. 5,715,769 shares of the stock traded hands, compared to its average volume of 7,579,335. The company has a market capitalization of $119.90 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. The firm has a 50-day simple moving average of $91.50 and a 200-day simple moving average of $88.25. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25.
Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts predict that Medtronic PLC will post 5.46 EPS for the current year.
Medtronic Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is currently 78.24%.
Analyst Ratings Changes
A number of brokerages have commented on MDT. Leerink Partners began coverage on Medtronic in a research report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target for the company. Mizuho increased their target price on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial increased their target price on Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research report on Thursday, August 21st. Citigroup increased their target price on Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Finally, Evercore ISI increased their target price on Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.14.
Check Out Our Latest Stock Report on Medtronic
Insiders Place Their Bets
In other news, Director William R. Jellison bought 2,500 shares of the firm's stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.
Medtronic Company Profile
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Free Report)
Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.
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