Medtronic PLC $MDT Shares Acquired by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Medtronic PLC by 26.3%, acquiring an additional 582,735 shares in the first quarter, bringing its total ownership to approximately $251.6 million.
• Analysts have recently revised their price targets for Medtronic, with Citigroup raising its target to $101.00 and Leerink Partners setting a new target of $110.00 while maintaining a "strong-buy" rating.
• Medtronic announced a quarterly dividend of $0.71 per share, reflecting a 3.1% dividend yield for shareholders, with a payout ratio of 78.24%.

Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 26.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,799,706 shares of the medical technology company's stock after acquiring an additional 582,735 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.22% of Medtronic worth $251,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Burkett Financial Services LLC increased its holdings in Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new stake in Medtronic in the 4th quarter valued at about $27,000. Columbia River Financial Group LLC purchased a new stake in Medtronic in the 1st quarter valued at about $28,000. Optiver Holding B.V. purchased a new stake in shares of Medtronic in the 4th quarter worth approximately $31,000. Finally, Hughes Financial Services LLC purchased a new stake in shares of Medtronic in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Sanford C. Bernstein increased their target price on shares of Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Morgan Stanley reiterated an "overweight" rating and issued a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Robert W. Baird raised their price target on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Citigroup raised their price target on shares of Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Medtronic presently has a consensus rating of "Moderate Buy" and an average target price of $102.14.

Insider Activity

In other news, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The shares were 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 directly owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Medtronic Trading Up 0.8%

Shares of Medtronic stock traded up $0.76 during mid-day trading on Friday, hitting $92.72. 5,157,169 shares of the stock were exchanged, compared to its average volume of 7,664,562. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The stock has a market capitalization of $118.93 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 2.34 and a beta of 0.80. The company has a 50-day simple moving average of $90.18 and a 200 day simple moving average of $88.07. The company has a current ratio of 2.01, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

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.