Columbus Macro LLC Purchases 13,416 Shares of Medtronic PLC $MDT

Key Points

• Columbus Macro LLC increased its stake in Medtronic PLC by 22.9%, purchasing an additional 13,416 shares, bringing their total holdings to 71,965 shares valued at $6.27 million.
• Medtronic recently declared a quarterly dividend of $0.71 per share, which will be paid on October 17th, yielding 2.9% annually.
• Analysts generally have a Moderate Buy consensus on Medtronic, with a target price averaging $101.63, indicating confidence in the company's growth potential.

Columbus Macro LLC boosted its position in Medtronic PLC (NYSE:MDT - Free Report) by 22.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,965 shares of the medical technology company's stock after purchasing an additional 13,416 shares during the period. Columbus Macro LLC's holdings in Medtronic were worth $6,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in MDT. 1248 Management LLC bought a new stake in Medtronic in the first quarter worth about $26,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $28,000. Twin Tree Management LP bought a new stake in shares of Medtronic during the first quarter valued at approximately $29,000. Activest Wealth Management raised its stake in shares of Medtronic by 3,577.8% during the first 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 in the last quarter. Finally, Hughes Financial Services LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $32,000. Institutional investors own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares of the company's stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Medtronic Price Performance

NYSE MDT opened at $97.88 on Thursday. The firm's fifty day simple moving average is $93.31 and its two-hundred day simple moving average is $88.65. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The firm has a market capitalization of $125.55 billion, a P/E ratio of 26.96, a P/E/G ratio of 2.59 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (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 analyst estimates of $8.37 billion. During the same period in the previous year, the company earned $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. Analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's payout ratio is currently 78.24%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MDT. UBS Group lifted their price target on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Leerink Partners began coverage on shares of Medtronic in a research note on Monday, June 16th. They set an "outperform" rating and a $110.00 price target for the company. William Blair raised shares of Medtronic to a "hold" rating in a research note on Friday, July 11th. Finally, Sanford C. Bernstein lifted their price target on shares of Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Medtronic has an average rating of "Moderate Buy" and a consensus target price of $101.63.

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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