Bleakley Financial Group LLC Acquires 8,692 Shares of Medtronic PLC $MDT

Key Points

• Bleakley Financial Group LLC increased its stake in Medtronic PLC by 13.3%, acquiring an additional 8,692 shares, bringing its total holdings to 74,136 shares valued at approximately $6.46 million.
• The company recently reported a quarterly earnings per share (EPS) of $1.26, surpassing analysts' expectations and demonstrating a 7.7% revenue growth year-over-year.
• Medtronic announced a quarterly dividend of $0.71, resulting in an annualized dividend yield of 3.0%, with a payout ratio of 78.24%.

Bleakley Financial Group LLC raised its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,136 shares of the medical technology company's stock after purchasing an additional 8,692 shares during the quarter. Bleakley Financial Group LLC's holdings in Medtronic were worth $6,462,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MDT. Brighton Jones LLC grew its stake in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Medtronic by 41.1% in the 1st quarter. GAMMA Investing LLC now owns 15,882 shares of the medical technology company's stock worth $1,427,000 after buying an additional 4,626 shares during the period. GHP Investment Advisors Inc. grew its position in shares of Medtronic by 2.5% during the 1st quarter. GHP Investment Advisors Inc. now owns 47,458 shares of the medical technology company's stock worth $4,265,000 after buying an additional 1,157 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Medtronic by 1.2% during the first quarter. International Assets Investment Management LLC now owns 14,597 shares of the medical technology company's stock valued at $1,312,000 after buying an additional 177 shares during the period. Finally, Moran Wealth Management LLC raised its holdings in shares of Medtronic by 19.1% in the first quarter. Moran Wealth Management LLC now owns 159,727 shares of the medical technology company's stock valued at $14,353,000 after acquiring an additional 25,602 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William R. Jellison bought 2,500 shares of the company's stock in a transaction on Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the company's 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 transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was 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.

Medtronic Trading Up 0.0%

NYSE:MDT opened at $95.84 on Thursday. The stock has a market capitalization of $122.93 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.52 and a beta of 0.78. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $94.26 and a 200 day moving average of $89.17.

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, topping analysts' consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The business's quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were given 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 was Friday, September 26th. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Mizuho increased their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. William Blair upgraded shares of Medtronic to a "hold" rating in a research note on Friday, July 11th. The Goldman Sachs Group cut their price objective on shares of Medtronic from $82.00 to $81.00 and set a "sell" rating on the stock in a report on Wednesday, October 1st. Wells Fargo & Company upped their target price on Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Finally, Robert W. Baird lifted their price target on Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $102.82.

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.

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