Aprio Wealth Management LLC Invests $297,000 in Medtronic PLC $MDT

Key Points

• Aprio Wealth Management LLC acquired a new stake in Medtronic PLC, purchasing 3,300 shares valued at approximately $297,000 during the first quarter.
• Medtronic reported $1.26 earnings per share for the recent quarter, surpassing analysts' expectations, with revenue reaching $8.58 billion.
• The company announced a quarterly dividend of $0.71, which will be paid on October 17th, translating to an annual dividend yield of around 3.1%.

Aprio Wealth Management LLC acquired a new stake in shares of Medtronic PLC (NYSE:MDT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,300 shares of the medical technology company's stock, valued at approximately $297,000.

A number of other large investors have also made changes to their positions in the stock. Brighton Jones LLC increased its stake in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares during the period. Bridgefront Capital LLC bought a new stake in Medtronic in the fourth quarter valued at about $277,000. CoreCap Advisors LLC increased its stake in Medtronic by 16.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,244 shares of the medical technology company's stock valued at $179,000 after acquiring an additional 322 shares during the period. Deutsche Bank AG increased its stake in Medtronic by 2.1% in the fourth quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company's stock valued at $1,473,278,000 after acquiring an additional 372,168 shares during the period. Finally, Clark Capital Management Group Inc. bought a new stake in Medtronic in the fourth quarter valued at about $34,438,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on MDT shares. Sanford C. Bernstein upped their target price 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. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. BTIG Research reaffirmed a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Leerink Partners started coverage on shares of Medtronic in a research note on Monday, June 16th. They set an "outperform" rating and a $110.00 price objective on the stock. Finally, Royal Bank Of Canada decreased their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Medtronic currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.14.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company'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 sale, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction dated Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, 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. Company insiders own 0.26% of the company's stock.

Medtronic Price Performance

Shares of MDT stock traded up $0.01 during trading hours on Monday, reaching $92.91. 4,922,548 shares of the company were exchanged, compared to its average volume of 7,609,480. The stock's fifty day moving average is $90.97 and its two-hundred day moving average is $88.14. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The company has a market cap of $119.17 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 2.36 and a beta of 0.77. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25.

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

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic's dividend payout ratio (DPR) is 78.24%.

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.