6,661 Shares in Medtronic PLC $MDT Purchased by Aspire Growth Partners LLC

Key Points

• Aspire Growth Partners LLC has acquired a new stake of 6,661 shares in Medtronic PLC, valued at approximately $554,000, during the first quarter.
• Medtronic recently declared a quarterly dividend of $0.71 per share, representing an annualized dividend of $2.84 and a yield of 3.2%.
• The company's latest quarterly earnings showed an EPS of $1.26, surpassing estimates and reflecting a 7.7% year-over-year revenue increase.

Aspire Growth Partners LLC purchased a new stake in Medtronic PLC (NYSE:MDT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,661 shares of the medical technology company's stock, valued at approximately $554,000.

Several other institutional investors have also made changes to their positions in MDT. Burkett Financial Services LLC lifted its position in shares of 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 buying an additional 185 shares during the last quarter. Columbia River Financial Group LLC acquired a new position in Medtronic during the first quarter worth about $28,000. Wood Tarver Financial Group LLC acquired a new position in Medtronic during the fourth quarter worth about $27,000. Hughes Financial Services LLC acquired a new stake in shares of Medtronic in the 1st quarter valued at approximately $32,000. Finally, Optiver Holding B.V. bought a new stake in shares of Medtronic during the 4th quarter valued at approximately $31,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Leerink Partners began coverage on Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target for the company. BTIG Research restated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Citigroup upped their target price on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a report on Thursday. Finally, Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and an average target price of $101.15.

Medtronic Price Performance

Shares of MDT stock traded up $1.5210 during trading on Friday, hitting $92.6210. The company had a trading volume of 4,870,626 shares, compared to its average volume of 7,618,189. The stock's 50-day moving average is $89.73 and its two-hundred day moving average is $88.03. The stock has a market capitalization of $118.72 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.56%. The company had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous 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, 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 will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio (DPR) 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.