2,570 Shares in Medtronic PLC $MDT Acquired by Accel Wealth Management

Key Points

• Accel Wealth Management acquired 2,570 shares of Medtronic PLC, valued at approximately $224,000, in the 2nd quarter.
• Medtronic recently reported a 7.7% increase in quarterly revenue year-over-year, totaling $8.58 billion, with earnings per share of $1.26.
• The company declared a quarterly dividend of $0.71 per share, with an ex-dividend date of September 26th, representing an annualized dividend yield of 2.9%.

Accel Wealth Management bought a new position in Medtronic PLC (NYSE:MDT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,570 shares of the medical technology company's stock, valued at approximately $224,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in Medtronic in the first quarter worth $26,000. Columbia River Financial Group LLC bought a new stake in Medtronic in the first quarter worth $28,000. Twin Tree Management LP bought a new stake in Medtronic in the first quarter worth $29,000. Activest Wealth Management lifted its stake in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after purchasing an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new stake in Medtronic in the first quarter worth $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Medtronic Stock Performance

Shares of NYSE:MDT opened at $97.63 on Monday. The company has a market cap of $125.23 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.57 and a beta of 0.78. The company has a 50-day moving average price of $92.94 and a 200-day moving average price of $88.46. The company has a current ratio of 2.01, a quick ratio of 1.50 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 $97.94.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. Medtronic's payout ratio is currently 78.24%.

Analyst Ratings Changes

MDT has been the subject of several recent research reports. Argus boosted their price target on shares of Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Truist Financial boosted their price target on shares of Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research note on Thursday, August 21st. The Goldman Sachs Group lowered their price target on shares of Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a research note on Wednesday, October 1st. Morgan Stanley reissued an "overweight" rating and issued a $107.00 price target (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Finally, Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.94.

About Medtronic

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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