D.A. Davidson & CO. Buys 3,652 Shares of Medtronic PLC $MDT

Key Points

• D.A. Davidson & CO. increased its stake in Medtronic PLC by 1.6%, acquiring an additional 3,652 shares during the second quarter, bringing its total holdings to 236,864 shares.
• Medtronic reported $1.26 earnings per share, exceeding estimates by $0.03, and had a quarterly revenue of $8.58 billion, reflecting a 7.7% year-over-year growth.
• The company recently declared a quarterly dividend of $0.71 per share, which translates to an annualized dividend of $2.84 with a yield of 3.0%.

D.A. Davidson & CO. grew its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,864 shares of the medical technology company's stock after buying an additional 3,652 shares during the period. D.A. Davidson & CO.'s holdings in Medtronic were worth $20,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MDT. 1248 Management LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $26,000. Columbia River Financial Group LLC bought a new stake in Medtronic in the first quarter worth $28,000. Twin Tree Management LP bought a new stake in Medtronic in the first quarter worth $29,000. Activest Wealth Management increased its position in Medtronic by 3,577.8% in the first 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. Finally, Hughes Financial Services LLC bought a new stake in Medtronic in the first quarter worth $32,000. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Down 0.1%

Shares of MDT opened at $95.84 on Wednesday. The firm has a market capitalization of $122.93 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.53 and a beta of 0.78. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average price of $94.20 and a 200-day moving average price of $89.13.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MDT. Robert W. Baird boosted their price target on shares of Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. The Goldman Sachs Group reduced their price target on shares of Medtronic from $82.00 to $81.00 and set a "sell" rating on the stock in a research report on Wednesday, October 1st. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Finally, Wells Fargo & Company boosted their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $102.82.

Insider Activity

In related news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the firm's stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 5,000 shares of the company's stock, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.26% of the company's stock.

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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