Hilltop National Bank purchased a new position in Medtronic PLC (NYSE:MDT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,671 shares of the medical technology company's stock, valued at approximately $1,976,000.
A number of other hedge funds also recently modified their holdings of MDT. Brighton Jones LLC grew its stake in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after buying an additional 37,265 shares in the last quarter. Merit Financial Group LLC grew its stake in Medtronic by 78.2% in the 1st quarter. Merit Financial Group LLC now owns 41,474 shares of the medical technology company's stock valued at $3,727,000 after buying an additional 18,204 shares in the last quarter. RFG Advisory LLC grew its stake in Medtronic by 6.1% in the 1st quarter. RFG Advisory LLC now owns 25,974 shares of the medical technology company's stock valued at $2,334,000 after buying an additional 1,482 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Medtronic by 128.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 8,013 shares of the medical technology company's stock valued at $720,000 after buying an additional 4,507 shares in the last quarter. Finally, Beacon Financial Group grew its stake in Medtronic by 9.5% in the 1st quarter. Beacon Financial Group now owns 14,249 shares of the medical technology company's stock valued at $1,280,000 after buying an additional 1,233 shares in the last quarter. Institutional investors own 82.06% of the company's stock.
Medtronic Stock Performance
NYSE MDT opened at $95.57 on Friday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The company has a market capitalization of $122.59 billion, a P/E ratio of 26.33, a P/E/G ratio of 2.50 and a beta of 0.78. The company has a fifty day moving average of $92.85 and a 200-day moving average of $88.46.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the firm posted $1.23 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.
Medtronic Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued 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 payout ratio is currently 78.24%.
Analyst Ratings Changes
A number of research analysts recently weighed in on MDT shares. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Argus boosted their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. William Blair upgraded shares of Medtronic to a "hold" rating in a research report on Friday, July 11th. Truist Financial boosted their price target on shares of Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research report on Thursday, August 21st. Finally, Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $102.27.
Read Our Latest Stock Analysis on MDT
Insider Buying and Selling at Medtronic
In other Medtronic 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 value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares of the company's stock, valued at $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 the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the 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 completion of the purchase, the director directly owned 5,000 shares of the company's stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.26% of the company's stock.
Medtronic 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.
Further Reading
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