Clare Market Investments LLC Takes Position in Medtronic PLC $MDT

Key Points

• Clare Market Investments LLC acquired a new stake in Medtronic PLC, purchasing 12,599 shares valued at approximately $1,098,000 during the 2nd quarter.
• Medtronic's stock was recently upgraded to a "strong-buy" rating by Leerink Partners, with a consensus target price of $102.27 among analysts.
• The company declared a quarterly dividend of $0.71, translating to an annualized yield of 3.0%, payable on October 17th.

Clare Market Investments LLC purchased a new stake in shares of Medtronic PLC (NYSE:MDT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,599 shares of the medical technology company's stock, valued at approximately $1,098,000.

Several other institutional investors have also recently added to or reduced their stakes in MDT. Burkett Financial Services LLC lifted its holdings in Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after purchasing an additional 185 shares during the last quarter. 1248 Management LLC bought a new position in shares of Medtronic in the first quarter worth about $26,000. Wood Tarver Financial Group LLC bought a new position in shares of Medtronic in the fourth quarter worth about $27,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic during the first quarter worth approximately $28,000. Finally, Twin Tree Management LP bought a new stake in shares of Medtronic during the first quarter worth approximately $29,000. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Truist Financial boosted their price target on shares of Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research note on Thursday, August 21st. Mizuho boosted their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Sanford C. Bernstein boosted their price target on shares of Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Finally, Argus upped their target price on shares of Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Medtronic has an average rating of "Moderate Buy" and a consensus target price of $102.27.

Medtronic Price Performance

Shares of MDT traded down $0.68 during mid-day trading on Friday, reaching $94.91. The company had a trading volume of 15,672,301 shares, compared to its average volume of 5,910,135. The company's 50 day simple moving average is $92.05 and its 200 day simple moving average is $88.33. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The company has a market capitalization of $121.74 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 2.50 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the company earned $1.23 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the business's 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 transaction, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is owned by company insiders.

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.