Czech National Bank Has $27.33 Million Position in Medtronic PLC $MDT

Key Points

• Czech National Bank increased its stake in Medtronic PLC by 6.4% during Q2, owning a total of 313,499 shares worth approximately $27.33 million.
• Several analysts upgraded Medtronic's stock ratings, resulting in an average target price of $102.14 with a consensus rating of "Moderate Buy."
• Medtronic announced a quarterly dividend of $0.71 per share, set to be paid on October 17th, reflecting a 3.0% yield.

Czech National Bank lifted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 6.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 313,499 shares of the medical technology company's stock after acquiring an additional 18,978 shares during the period. Czech National Bank's holdings in Medtronic were worth $27,328,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MDT. Brighton Jones LLC lifted its position in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares during the period. State of Wyoming acquired a new position in shares of Medtronic during the 4th quarter valued at $119,000. Twinbeech Capital LP acquired a new position in shares of Medtronic during the 4th quarter valued at $44,845,000. St. Clair Advisors LLC acquired a new position in shares of Medtronic during the 4th quarter valued at $892,000. Finally, WBI Investments LLC lifted its position in shares of Medtronic by 10.9% during the 4th quarter. WBI Investments LLC now owns 6,936 shares of the medical technology company's stock valued at $554,000 after acquiring an additional 680 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MDT. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Argus boosted their price target 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. Truist Financial boosted their price target on shares of Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research note on Thursday, August 21st. Sanford C. Bernstein boosted 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. Finally, Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $102.14.

Insider Activity

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 transaction of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares of the company's stock, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.

Medtronic Price Performance

MDT opened at $93.48 on Tuesday. The firm has a market cap of $119.90 billion, a P/E ratio of 25.75, a PEG ratio of 2.48 and a beta of 0.77. The firm has a 50-day moving average of $91.61 and a 200 day moving average of $88.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last released 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. The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company's revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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

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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