3,063 Shares in Medtronic PLC $MDT Bought by Jackson Thornton Wealth Management LLC

Key Points

• Jackson Thornton Wealth Management LLC acquired 3,063 shares of Medtronic PLC, valued at approximately $271,000, indicating a growing interest from institutional investors in the medical technology sector.
• Medtronic reported a quarterly earnings per share (EPS) of $1.26, exceeding expectations and contributing to a 7.7% year-over-year increase in revenue, totaling $8.58 billion.
• The company recently announced a quarterly dividend of $0.71, which reflects a 3.0% yield and a payout ratio of 78.24%, showcasing its commitment to returning value to shareholders.

Jackson Thornton Wealth Management LLC purchased a new position in Medtronic PLC (NYSE:MDT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,063 shares of the medical technology company's stock, valued at approximately $271,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Advisory Services LLC purchased a new position in Medtronic during the first quarter valued at $541,000. GC Wealth Management RIA LLC lifted its position in Medtronic by 20.6% during the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company's stock valued at $2,926,000 after buying an additional 5,734 shares during the period. Verdence Capital Advisors LLC lifted its position in Medtronic by 22.0% during the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company's stock valued at $2,562,000 after buying an additional 5,296 shares during the period. RNC Capital Management LLC lifted its position in Medtronic by 8.8% during the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company's stock valued at $37,474,000 after buying an additional 33,729 shares during the period. Finally, Commerce Bank lifted its position in Medtronic by 1.7% during the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock valued at $13,118,000 after buying an additional 2,429 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Activity

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director 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 purchase was disclosed in a filing with the SEC, which is accessible through 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 value of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Medtronic Price Performance

Shares of NYSE:MDT opened at $95.97 on Tuesday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The business has a fifty day moving average price of $94.13 and a 200-day moving average price of $89.08. The company has a market capitalization of $123.10 billion, a PE ratio of 26.44, a PEG ratio of 2.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

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

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on MDT. Argus raised their price objective on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. William Blair raised Medtronic to a "hold" rating in a research report on Friday, July 11th. The Goldman Sachs Group reduced their price target on Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a report on Wednesday, October 1st. Citigroup raised their price target on Medtronic from $101.00 to $112.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Finally, Wells Fargo & Company raised their price target on Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.82.

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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