Medtronic PLC $MDT Shares Bought by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its holdings in Medtronic PLC by 4.1%, acquiring an additional 6,840 shares, bringing their total to 173,818 shares valued at approximately $15.6 million.
• Several institutional investors have raised their stakes in Medtronic, including Vanguard Group and Massachusetts Financial Services, with institutional ownership now at 82.06%.
• Medtronic recently declared a quarterly dividend of $0.71, with a dividend yield of 3.0%, indicating a commitment to returning value to shareholders.

Advisors Asset Management Inc. boosted its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 4.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,818 shares of the medical technology company's stock after purchasing an additional 6,840 shares during the quarter. Advisors Asset Management Inc.'s holdings in Medtronic were worth $15,619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Burkett Financial Services LLC boosted its stake in Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after purchasing an additional 185 shares during the period. 1248 Management LLC bought a new position in shares of Medtronic during the 1st quarter valued at approximately $26,000. Wood Tarver Financial Group LLC bought a new position in shares of Medtronic during the 4th quarter valued at approximately $27,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic during the 1st quarter valued at approximately $28,000. Finally, Twin Tree Management LP bought a new position in shares of Medtronic during the 1st quarter valued at approximately $29,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.1%

Shares of Medtronic stock traded up $0.08 during trading on Friday, hitting $92.93. 4,856,702 shares of the stock traded hands, compared to its average volume of 7,029,722. The firm has a market cap of $119.20 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. 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 52-week low of $79.29 and a 52-week high of $96.25. The stock's fifty day simple moving average is $90.97 and its 200 day simple moving average is $88.13.

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 (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's payout ratio is presently 78.24%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction 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 $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William R. Jellison bought 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of analyst reports. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Argus raised their price target on Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. UBS Group raised their price target on Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. William Blair upgraded Medtronic to a "hold" rating in a research report on Friday, July 11th. Finally, Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and an average target price 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.