Berkshire Asset Management LLC PA Has $5.04 Million Stake in Medtronic PLC $MDT

Key Points

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Berkshire Asset Management LLC PA trimmed its position in Medtronic PLC (NYSE:MDT - Free Report) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,232 shares of the medical technology company's stock after selling 3,089 shares during the period. Berkshire Asset Management LLC PA's holdings in Medtronic were worth $5,037,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dunhill Financial LLC grew its position in Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after acquiring an additional 124 shares during the last quarter. Cidel Asset Management Inc. grew its position in Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after acquiring an additional 126 shares during the last quarter. Petros Family Wealth LLC grew its position in Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after acquiring an additional 127 shares during the last quarter. Motco grew its position in Medtronic by 27.0% in the first quarter. Motco now owns 635 shares of the medical technology company's stock valued at $57,000 after acquiring an additional 135 shares during the last quarter. Finally, Baker Avenue Asset Management LP grew its position in Medtronic by 3.1% in the first quarter. Baker Avenue Asset Management LP now owns 4,558 shares of the medical technology company's stock valued at $410,000 after acquiring an additional 136 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 1.7%

MDT traded up $1.5210 during trading on Friday, hitting $92.6210. The company's stock had a trading volume of 4,870,626 shares, compared to its average volume of 7,618,189. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock's fifty day moving average price is $89.73 and its 200-day moving average price is $88.03. The firm has a market capitalization of $118.72 billion, a P/E ratio of 25.52, a PEG ratio of 2.31 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. The company'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. Analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MDT shares. Mizuho lifted their target price on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Wells Fargo & Company boosted their price target on Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday. Robert W. Baird boosted their price target on Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. Finally, Royal Bank Of Canada reduced their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $101.15.

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.