Assenagon Asset Management S.A. Has $5.56 Million Stock Position in Medtronic PLC $MDT

Key Points

• Assenagon Asset Management S.A. increased its stake in Medtronic PLC by 6.7% in Q2, owning 63,810 shares valued at approximately $5.56 million.
• The company recently announced a quarterly dividend of $0.71 per share, reflecting an annualized yield of 3.0%.
• Analysts have set new price targets for Medtronic, with Citigroup raising its target from $99.00 to $101.00 and Wells Fargo increasing its target from $98.00 to $100.00.

Assenagon Asset Management S.A. grew its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,810 shares of the medical technology company's stock after purchasing an additional 4,016 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Medtronic were worth $5,562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of MDT. Boston Partners raised its stake in shares of Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock valued at $619,460,000 after acquiring an additional 3,809,450 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Medtronic by 28.8% during the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock valued at $1,391,141,000 after purchasing an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock valued at $903,915,000 after purchasing an additional 3,017,849 shares during the period. Nuveen LLC acquired a new stake in shares of Medtronic in the first quarter worth $260,649,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Medtronic by 220.9% during the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company's stock worth $216,753,000 after buying an additional 1,660,357 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business's 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 of the company's stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the business's stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares of the company's stock, valued at $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 owned by company insiders.

Medtronic Stock Performance

MDT opened at $95.64 on Thursday. The stock's 50 day simple moving average is $92.39 and its 200-day simple moving average is $88.39. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The stock has a market cap of $122.68 billion, a PE ratio of 26.35, a P/E/G ratio of 2.50 and a beta of 0.77. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25.

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 for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company earned $1.23 earnings per share. The business'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. Sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm 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 $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio is 78.24%.

Analysts Set New Price Targets

MDT has been the topic of several recent analyst reports. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Citigroup raised their target price on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, Wells Fargo & Company upped their price target on Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $102.27.

About Medtronic

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.

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