Ashton Thomas Private Wealth LLC Acquires 2,895 Shares of Medtronic PLC $MDT

Key Points

• Ashton Thomas Private Wealth LLC increased its holdings in Medtronic PLC by 12.8%, owning 25,471 shares valued at approximately $2.31 million as of the latest SEC filing.
• Insider trading at Medtronic includes Harry Skip Kiil, EVP, selling 8,605 shares for around $788,045, while Director William R. Jellison purchased 2,500 shares valued at about $230,925.
• The company recently announced a quarterly dividend of $0.71, translating to an annual yield of 3.0%, with a payout ratio of 78.24%.

Ashton Thomas Private Wealth LLC boosted its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 12.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,471 shares of the medical technology company's stock after purchasing an additional 2,895 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Medtronic were worth $2,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC raised its holdings in Medtronic by 185.0% during 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 last quarter. 1248 Management LLC bought a new stake in shares of Medtronic in the 1st quarter valued at about $26,000. Wood Tarver Financial Group LLC bought a new stake in shares of Medtronic in the 4th quarter valued at about $27,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic in the 1st quarter valued at about $28,000. Finally, Twin Tree Management LP bought a new stake in shares of Medtronic in the 1st quarter valued at about $29,000. 82.06% of the stock is owned by institutional investors.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the 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 sale, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company's stock.

Medtronic Stock Down 0.2%

NYSE:MDT traded down $0.20 during trading hours on Friday, reaching $94.05. 7,334,188 shares of the stock were exchanged, compared to its average volume of 6,888,095. The stock has a market cap of $120.64 billion, a PE ratio of 25.91, a PEG ratio of 2.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The firm has a 50 day moving average of $91.50 and a 200 day moving average of $88.28.

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. The company 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 firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio is presently 78.24%.

Analyst Ratings Changes

A number of brokerages have recently commented on MDT. Sanford C. Bernstein upped their price target on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Citigroup upped their price target on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Royal Bank Of Canada lowered their target price on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Wells Fargo & Company increased their target price on Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Finally, UBS Group increased their target price on Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.