Campbell & CO Investment Adviser LLC Purchases New Position in Medtronic PLC $MDT

Key Points

• Campbell & CO Investment Adviser LLC has acquired a new stake in Medtronic PLC, purchasing 34,748 shares valued at approximately $3.12 million during the first quarter.
• Medtronic reported a Q1 EPS of $1.26, exceeding analysts' estimates by $0.03, with revenues reaching $8.58 billion, up 7.7% from the previous year.
• The company announced a quarterly dividend of $0.71, translating to an annualized yield of 3.1%, and a payout ratio of 78.24%.

Campbell & CO Investment Adviser LLC acquired a new position in Medtronic PLC (NYSE:MDT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 34,748 shares of the medical technology company's stock, valued at approximately $3,122,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MDT. Brighton Jones LLC raised its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Medtronic by 15.1% during the 4th quarter. Voya Investment Management LLC now owns 746,774 shares of the medical technology company's stock valued at $59,652,000 after buying an additional 97,778 shares in the last quarter. Capital Analysts LLC lifted its position in Medtronic by 2.7% in the 4th quarter. Capital Analysts LLC now owns 121,300 shares of the medical technology company's stock worth $9,690,000 after buying an additional 3,180 shares during the last quarter. Boothbay Fund Management LLC boosted its stake in Medtronic by 2,439.1% in the fourth quarter. Boothbay Fund Management LLC now owns 77,571 shares of the medical technology company's stock worth $6,196,000 after buying an additional 74,516 shares in the last quarter. Finally, Oxford Asset Management LLP raised its stake in shares of Medtronic by 70.1% during the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after acquiring an additional 3,068 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MDT shares. Wall Street Zen cut shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Truist Financial boosted their target price on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research note on Thursday, August 21st. Evercore ISI increased their target price on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Sanford C. Bernstein raised their price target on Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Medtronic presently has a consensus rating of "Moderate Buy" and an average target price of $102.14.

Medtronic Stock Down 0.1%

MDT stock traded down $0.08 during midday trading on Thursday, hitting $91.97. The stock had a trading volume of 5,615,496 shares, compared to its average volume of 7,679,693. The business has a 50-day moving average of $90.06 and a two-hundred day moving average of $88.06. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The firm has a market cap of $117.98 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 2.34 and a beta of 0.80. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 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 business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The company'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 forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal 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. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Insider Transactions at Medtronic

In related news, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The shares were purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $461,850. The trade was 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. Corporate insiders own 0.20% 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.