Callan Family Office LLC Boosts Holdings in Medtronic PLC $MDT

Key Points

• Callan Family Office LLC increased its stake in Medtronic PLC by 241.8% in the second quarter, owning a total of 28,883 shares worth approximately $2.52 million.
• Medtronic recently reported an EPS of $1.26 for the quarter, exceeding analyst estimates, and announced a quarterly dividend of $0.71 to be paid on October 17th.
• Research analysts have set an average price target of $102.41 for Medtronic shares, with ratings including one Strong Buy and twelve Buy ratings.

Callan Family Office LLC lifted its stake in Medtronic PLC (NYSE:MDT - Free Report) by 241.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,883 shares of the medical technology company's stock after purchasing an additional 20,433 shares during the period. Callan Family Office LLC's holdings in Medtronic were worth $2,518,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. 1248 Management LLC purchased a new position in Medtronic during the 1st quarter valued at about $26,000. Columbia River Financial Group LLC purchased a new position in Medtronic during the 1st quarter valued at about $28,000. Twin Tree Management LP purchased a new position in Medtronic during the 1st quarter valued at about $29,000. Activest Wealth Management lifted its position 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 acquiring an additional 322 shares during the period. Finally, Hughes Financial Services LLC purchased a new position in Medtronic during the 1st quarter valued at about $32,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Shares of MDT stock opened at $95.52 on Friday. The company has a 50 day moving average price of $93.56 and a 200-day moving average price of $88.74. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The firm has a market capitalization of $122.52 billion, a PE ratio of 26.31, a P/E/G ratio of 2.51 and a beta of 0.78. 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 announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the business posted $1.23 earnings per share. The business's revenue for the quarter 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, equities research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic's payout ratio is currently 78.24%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MDT shares. Royal Bank Of Canada reissued an "outperform" rating and set a $111.00 price target on shares of Medtronic in a research report on Friday. Mizuho lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. BTIG Research restated a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Citigroup raised their price objective on shares of Medtronic from $101.00 to $112.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Medtronic in a research note on Wednesday. One equities 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $102.41.

Insider Buying and Selling

In other news, 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 value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.26% of the company's stock.

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.

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