T. Rowe Price Investment Management Inc. Acquires New Holdings in Medtronic PLC $MDT

Key Points

• T. Rowe Price Investment Management Inc. acquired 3,175 shares of Medtronic PLC valued at approximately $286,000 in the 1st quarter.
• Analysts have given Medtronic a consensus rating of "Moderate Buy" with an average price target of $101.15, reflecting mixed outlooks on the stock's performance.
• Medtronic recently announced a quarterly dividend of $0.71 per share, which will be paid on October 17th, resulting in an annualized yield of 3.1%.

T. Rowe Price Investment Management Inc. bought a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,175 shares of the medical technology company's stock, valued at approximately $286,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Dunhill Financial LLC grew its holdings in shares of Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after buying an additional 124 shares during the last quarter. Cidel Asset Management Inc. raised its position in shares of Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after acquiring an additional 126 shares during the period. Petros Family Wealth LLC raised its position in shares of Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after acquiring an additional 127 shares during the period. Motco raised its position in shares of Medtronic by 27.0% in the first quarter. Motco now owns 635 shares of the medical technology company's stock worth $57,000 after acquiring an additional 135 shares during the period. Finally, Baker Avenue Asset Management LP increased its stake in shares of Medtronic by 3.1% during the first quarter. Baker Avenue Asset Management LP now owns 4,558 shares of the medical technology company's stock worth $410,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Price Performance

Shares of NYSE MDT traded up $0.76 on Friday, hitting $92.72. The company's stock had a trading volume of 5,174,507 shares, compared to its average volume of 7,664,636. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.42. The company has a market capitalization of $118.93 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 2.34 and a beta of 0.80. The stock has a 50 day moving average of $90.18 and a 200-day moving average of $88.07. 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 quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for 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 quarter 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, research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors 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 yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Insiders Place Their Bets

In related news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

MDT has been the subject of several research reports. Royal Bank Of Canada dropped their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Evercore ISI raised their price target on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Truist Financial raised 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. BTIG Research reissued a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Finally, UBS Group raised their price target on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $102.14.

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.