Chicago Capital LLC Increases Stock Holdings in Medtronic PLC $MDT

Key Points

• Chicago Capital LLC increased its holdings in Medtronic PLC by 45.2% in the second quarter, now owning 16,873 shares valued at approximately $1.47 million.
• Analysts have shown confidence in Medtronic, with multiple upgrades including a price target increase from $94.00 to $95.00 by UBS Group, indicating a mostly positive outlook.
• Medtronic's quarterly results exceeded analyst expectations, reporting $1.26 earnings per share with revenue increasing by 7.7% compared to the previous year.

Chicago Capital LLC increased its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 45.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,873 shares of the medical technology company's stock after buying an additional 5,249 shares during the period. Chicago Capital LLC's holdings in Medtronic were worth $1,471,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Red Spruce Capital LLC raised its position in Medtronic by 0.5% during the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock worth $2,067,000 after acquiring an additional 118 shares during the last quarter. Certior Financial Group LLC increased its stake in shares of Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock worth $310,000 after purchasing an additional 122 shares in the last quarter. Dunhill Financial LLC raised its position in shares of Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after purchasing an additional 124 shares during the last quarter. Cidel Asset Management Inc. lifted its stake in Medtronic by 1.3% in the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after buying an additional 126 shares in the last quarter. Finally, Petros Family Wealth LLC grew its holdings in Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after buying an additional 127 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDT has been the topic of several recent research reports. UBS Group upped their price objective on Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. William Blair upgraded shares of Medtronic to a "hold" rating in a report on Friday, July 11th. Daiwa Capital Markets boosted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Finally, Citigroup raised their target price on shares of Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $102.27.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the business's stock in a transaction dated Monday, August 25th. The shares were acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction 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. Company insiders own 0.26% of the company's stock.

Medtronic Stock Up 1.3%

Shares of NYSE MDT opened at $95.23 on Wednesday. The stock has a market capitalization of $122.15 billion, a PE ratio of 26.23, a P/E/G ratio of 2.47 and a beta of 0.77. 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 fifty day moving average of $92.73 and a 200-day moving average of $88.40. 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 issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

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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