Columbia Asset Management Purchases 4,130 Shares of Medtronic PLC $MDT

Key Points

• Columbia Asset Management increased its stake in Medtronic PLC by 7.4%, acquiring an additional 4,130 shares, bringing its total holdings to 60,221 shares valued at approximately $5.25 million.
• Medtronic recently reported earnings of $1.26 per share, surpassing analysts' expectations, and posted quarterly revenues of $8.58 billion, which represents a year-over-year increase of 7.7%.
• The company announced a quarterly dividend of $0.71 per share, resulting in an annualized dividend of $2.84 and a dividend yield of 3.0%, with a payout ratio of 78.24%.

Columbia Asset Management increased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 7.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,221 shares of the medical technology company's stock after acquiring an additional 4,130 shares during the quarter. Medtronic comprises 1.0% of Columbia Asset Management's holdings, making the stock its 27th biggest position. Columbia Asset Management's holdings in Medtronic were worth $5,249,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. 1248 Management LLC bought a new position in shares of Medtronic during the 1st quarter worth approximately $26,000. Burkett Financial Services LLC grew its position in Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after purchasing an additional 185 shares during the last quarter. Columbia River Financial Group LLC purchased a new stake in Medtronic during the 1st quarter worth approximately $28,000. Twin Tree Management LP purchased a new stake in Medtronic during the 1st quarter worth approximately $29,000. Finally, Activest Wealth Management grew 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 worth $30,000 after purchasing an additional 322 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MDT. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. Leerink Partners began coverage on shares of Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 target price on the stock. Argus boosted their target price on shares of Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Finally, William Blair raised shares of Medtronic to a "hold" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.27.

Medtronic Stock Up 1.3%

MDT stock opened at $95.23 on Wednesday. The firm's fifty day simple moving average is $92.73 and its 200-day simple moving average is $88.40. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The company has a market capitalization of $122.15 billion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 2.47 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 earnings per share. 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 year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given 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 dividend payout ratio is 78.24%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction dated 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 transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William R. Jellison acquired 2,500 shares of the firm's stock in a transaction on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director 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 disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company's stock.

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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