Ashford Capital Management Inc. Acquires New Position in Medtronic PLC $MDT

Key Points

• Ashford Capital Management Inc. bought 19,203 shares of Medtronic PLC, valued at approximately $1,726,000, as disclosed in their recent 13F filing.
• Medtronic reported quarterly earnings of $1.26 EPS, exceeding analysts' estimates, and saw a year-over-year revenue increase of 7.7% to $8.58 billion.
• Medtronic declared a quarterly dividend of $0.71 per share, translating to an annualized dividend yield of 3.1%.

Ashford Capital Management Inc. bought a new stake in shares of Medtronic PLC (NYSE:MDT - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 19,203 shares of the medical technology company's stock, valued at approximately $1,726,000.

Other large investors have also recently bought and sold shares of the company. Commerce Bank grew its holdings in Medtronic by 1.7% during the 1st quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock valued at $13,118,000 after buying an additional 2,429 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares during the period. Insight Inv LLC lifted its stake in shares of Medtronic by 84.2% during the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock worth $2,467,000 after purchasing an additional 12,550 shares during the period. Korea Investment CORP lifted its stake in shares of Medtronic by 24.1% during the 1st quarter. Korea Investment CORP now owns 1,141,565 shares of the medical technology company's stock worth $102,581,000 after purchasing an additional 221,568 shares during the period. Finally, D Orazio & Associates Inc. purchased a new position in shares of Medtronic during the 1st quarter worth $357,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Activity

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Mizuho increased their price target on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday. Citigroup increased their target price on Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Finally, William Blair raised Medtronic to a "hold" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Medtronic has a consensus rating of "Moderate Buy" and an average target price of $102.14.

Medtronic Stock Down 1.2%

NYSE:MDT traded down $1.13 during mid-day trading on Wednesday, hitting $92.20. The company had a trading volume of 5,352,200 shares, compared to its average volume of 7,647,770. The business has a fifty day simple moving average of $90.59 and a 200-day simple moving average of $88.06. The company has a current ratio of 2.01, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25. The firm has a market capitalization of $118.26 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 2.36 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 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 period last year, the company posted $1.23 earnings per share. The firm's 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. Equities analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Medtronic 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.