12,360 Shares in Medtronic PLC $MDT Purchased by Divergent Planning LLC

Key Points

• Divergent Planning LLC has acquired a new stake in Medtronic PLC, purchasing 12,360 shares valued at approximately $1,077,000 during the second quarter.
• Medtronic reported a Q2 EPS of $1.26, beating analysts' expectations of $1.23, with a revenue of $8.58 billion up 7.7% year-over-year.
• The company recently declared a quarterly dividend of $0.71, resulting in an annualized dividend yield of 3.0%.

Divergent Planning LLC bought a new stake in Medtronic PLC (NYSE:MDT - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,360 shares of the medical technology company's stock, valued at approximately $1,077,000.

A number of other institutional investors have also modified their holdings of the company. Boston Partners grew its stake in Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock worth $619,460,000 after acquiring an additional 3,809,450 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Medtronic by 28.8% during the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock worth $1,391,141,000 after purchasing an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock worth $903,915,000 after purchasing an additional 3,017,849 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Medtronic in the first quarter valued at $260,649,000. Finally, Mackenzie Financial Corp increased its stake in Medtronic by 220.9% in the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company's stock valued at $216,753,000 after purchasing an additional 1,660,357 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Price Performance

MDT opened at $95.97 on Tuesday. 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 52-week low of $79.29 and a 52-week high of $99.37. The company has a 50 day moving average of $94.13 and a two-hundred day moving average of $89.08. The company has a market cap of $123.10 billion, a P/E ratio of 26.44, a P/E/G ratio of 2.52 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter last year, the firm posted $1.23 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic's dividend payout ratio (DPR) is 78.24%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Mizuho raised their price target on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Sanford C. Bernstein raised their target price on shares of Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Weiss Ratings restated a "buy (b-)" rating on shares of Medtronic in a report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $111.00 price target on shares of Medtronic in a research note on Friday, October 10th. Finally, BTIG Research reiterated a "neutral" rating on shares of Medtronic in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and a consensus price target of $102.82.

Insider Activity

In other news, EVP Harry Skip Kiil sold 8,605 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William R. Jellison bought 2,500 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company's stock.

Medtronic Company Profile

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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