71,252 Shares in Medtronic PLC $MDT Acquired by Dupont Capital Management Corp

Key Points

• Dupont Capital Management Corp has acquired 71,252 shares of Medtronic PLC, valued at approximately $6.2 million, according to its recent SEC filing.
• Institutional investors now own 82.06% of Medtronic's stock, highlighting increased interest from hedge funds and financial firms.
• Medtronic's stock achieved a 7.7% year-over-year revenue growth, reporting earnings of $1.26 per share, exceeding analyst expectations.

Dupont Capital Management Corp bought a new position in Medtronic PLC (NYSE:MDT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 71,252 shares of the medical technology company's stock, valued at approximately $6,211,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Medtronic by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock worth $11,233,780,000 after acquiring an additional 810,854 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Medtronic by 7.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock worth $2,001,903,000 after purchasing an additional 1,461,841 shares during the period. Bank of New York Mellon Corp boosted its stake in Medtronic by 3.8% in the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock worth $1,858,332,000 after purchasing an additional 756,192 shares during the period. Deutsche Bank AG boosted its stake in Medtronic by 3.1% in the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock worth $1,708,220,000 after purchasing an additional 566,155 shares during the period. Finally, Invesco Ltd. boosted its stake in Medtronic by 9.9% in the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock worth $1,525,876,000 after purchasing an additional 1,535,308 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company upped their price target on Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Robert W. Baird upped their price target on Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. UBS Group upped their price target on Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, BTIG Research restated a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Medtronic has an average rating of "Moderate Buy" and an average target price of $102.82.

Insiders Place Their Bets

In related news, Director William R. Jellison purchased 2,500 shares of the 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 completion of the transaction, the director directly owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was 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 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 owned by company insiders.

Medtronic Stock Up 0.2%

NYSE MDT opened at $95.97 on Tuesday. 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 $123.10 billion, a P/E ratio of 26.44, a P/E/G ratio of 2.52 and a beta of 0.78. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The stock has a 50 day moving average price of $94.13 and a 200-day moving average price of $89.08.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 14.61% and a net margin of 13.63%.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 company earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

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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