Alyeska Investment Group L.P. Acquires 1,442,768 Shares of Medtronic PLC $MDT

Key Points

• Alyeska Investment Group L.P. increased its stake in Medtronic PLC by 100.8% in Q1, owning 2,873,623 shares valued at approximately $258.2 million.
• Medtronic recently announced a quarterly dividend of $0.71 per share, resulting in an annualized dividend yield of 3.0% with an ex-dividend date on September 26.
• Analysts have a consensus rating of "Moderate Buy" for Medtronic, with target prices ranging up to $115.00 following various upgrades.

Alyeska Investment Group L.P. raised its stake in Medtronic PLC (NYSE:MDT - Free Report) by 100.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,873,623 shares of the medical technology company's stock after acquiring an additional 1,442,768 shares during the period. Medtronic comprises about 1.0% of Alyeska Investment Group L.P.'s investment portfolio, making the stock its 10th largest position. Alyeska Investment Group L.P. owned 0.22% of Medtronic worth $258,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of MDT. Burkett Financial Services LLC grew its position in Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares during the period. 1248 Management LLC bought a new stake in Medtronic in the first quarter valued at $26,000. Wood Tarver Financial Group LLC bought a new stake in Medtronic in the fourth quarter valued at $27,000. Columbia River Financial Group LLC bought a new stake in Medtronic in the first quarter valued at $28,000. Finally, Twin Tree Management LP bought a new stake in shares of Medtronic during the first quarter worth $29,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Evercore ISI increased their target price on Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. Mizuho increased their target price on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. BTIG Research restated a "neutral" rating on shares of Medtronic in a report on Friday, July 11th. Finally, Robert W. Baird increased their target price on Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a 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 given a Hold rating to the company. Based on data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and a consensus price target of $102.14.

Medtronic Trading Up 0.1%

Medtronic stock traded up $0.08 during mid-day trading on Friday, hitting $92.93. The stock had a trading volume of 4,856,702 shares, compared to its average volume of 7,029,722. The stock has a 50-day simple moving average of $90.97 and a two-hundred day simple moving average of $88.13. The stock has a market capitalization of $119.20 billion, a PE ratio of 25.60, a P/E/G ratio of 2.36 and a beta of 0.77. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. 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 (NYSE:MDT - Get Free Report) last posted its quarterly 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 business had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter last year, the business 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. As a group, sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

Insider Activity

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value 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 trade represents a 100.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

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.