Brightwater Advisory LLC Acquires 2,673 Shares of Medtronic PLC $MDT

Key Points

• Brightwater Advisory LLC increased its holdings in Medtronic PLC by 458.5% in the second quarter, acquiring an additional 2,673 shares, bringing its total to 3,256 shares worth $293,000.
• Medtronic's recent quarterly earnings surpassed expectations, reporting an EPS of $1.26 and revenue of $8.58 billion, which was an increase of 7.7% from the previous year.
• The company announced a quarterly dividend of $0.71 to be paid on October 17th, representing an annualized yield of 3.0% and a dividend payout ratio of 78.24%.

Brightwater Advisory LLC increased its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 458.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,256 shares of the medical technology company's stock after acquiring an additional 2,673 shares during the quarter. Brightwater Advisory LLC's holdings in Medtronic were worth $293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. 1248 Management LLC bought a new position in shares of Medtronic in the 1st quarter worth about $26,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic in the 1st quarter worth about $28,000. Twin Tree Management LP bought a new stake in Medtronic during the 1st quarter valued at about $29,000. Activest Wealth Management increased its stake in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock valued at $30,000 after purchasing an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC bought a new stake in Medtronic during the 1st quarter valued at about $32,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of NYSE MDT opened at $95.52 on Friday. The firm's 50-day moving average price is $93.56 and its 200-day moving average price is $88.74. 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 company has a market cap of $122.52 billion, a PE ratio of 26.31, a PEG ratio of 2.51 and a beta of 0.78. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction that occurred 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 completion of the acquisition, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was 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 directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MDT shares. Mizuho raised their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Stifel Nicolaus raised their price objective on shares of Medtronic from $90.00 to $105.00 and gave the company a "hold" rating in a research note on Thursday. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Daiwa Capital Markets raised their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and an average target price of $102.41.

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.

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