2,943 Shares in Medtronic PLC $MDT Bought by Bell Bank

Key Points

• Bell Bank acquired a new stake in Medtronic PLC, purchasing 2,943 shares valued at approximately $257,000 in the second quarter.
• In a significant insider transaction, Director William R. Jellison bought 2,500 shares at an average price of $92.37, increasing his ownership by 100% to a total of 5,000 shares.
• Medtronic recently reported a quarterly EPS of $1.26, exceeding analysts' expectations, along with a 7.7% year-over-year revenue increase to $8.58 billion.

Bell Bank bought a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,943 shares of the medical technology company's stock, valued at approximately $257,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Red Spruce Capital LLC increased its position in Medtronic by 0.5% during the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock worth $2,067,000 after buying an additional 118 shares during the period. Certior Financial Group LLC raised its holdings in Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock worth $310,000 after purchasing an additional 122 shares during the last quarter. Dunhill Financial LLC raised its holdings in Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after purchasing an additional 124 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in shares of Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after acquiring an additional 126 shares during the last quarter. Finally, Petros Family Wealth LLC raised its holdings in shares of Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Transactions at Medtronic

In other news, Director William R. Jellison bought 2,500 shares of the business's stock in a transaction dated Monday, August 25th. The stock was bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. The trade was a 100.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares of the company's stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Wells Fargo & Company upped their target price on Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Truist Financial upped their target price on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research note on Thursday, August 21st. Citigroup boosted their price target on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Finally, Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Medtronic has a consensus rating of "Moderate Buy" and an average target price of $102.27.

Medtronic Stock Up 0.8%

Shares of MDT traded up $0.79 during mid-day trading on Tuesday, reaching $95.41. The company's stock had a trading volume of 2,032,339 shares, compared to its average volume of 7,606,381. The business has a fifty day moving average of $92.15 and a 200 day moving average of $88.29. The company has a market cap of $122.38 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth 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. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping 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 in the prior year, the firm posted $1.23 EPS. 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. As a group, analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic's dividend payout ratio (DPR) is 78.24%.

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.