Davidson Investment Advisors Acquires 2,820 Shares of Medtronic PLC $MDT

Key Points

• Davidson Investment Advisors increased its stake in Medtronic PLC by 0.8%, acquiring an additional 2,820 shares, making it their 18th largest holding valued at approximately $32.76 million.
• Medtronic recently reported earnings of $1.26 per share, surpassing estimates, and announced a quarterly dividend of $0.71 per share with a yield of 2.9%.
• Wall Street analysts have varying ratings on Medtronic, with a consensus average rating of "Moderate Buy" and a price target averaging around $102.41.

Davidson Investment Advisors boosted its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 375,859 shares of the medical technology company's stock after buying an additional 2,820 shares during the quarter. Medtronic makes up 1.5% of Davidson Investment Advisors' holdings, making the stock its 18th biggest holding. Davidson Investment Advisors' holdings in Medtronic were worth $32,764,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. 1248 Management LLC acquired a new position in shares of Medtronic during the first quarter worth $26,000. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic during the 1st quarter valued at $28,000. Twin Tree Management LP bought a new stake in Medtronic during the 1st quarter worth $29,000. Activest Wealth Management raised 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 valued at $30,000 after purchasing an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in shares of Medtronic during the first quarter valued at about $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of research reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $111.00 price objective on shares of Medtronic in a report on Friday. Evercore ISI boosted their price objective on shares of Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Robert W. Baird increased their price objective on Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. UBS Group lifted their target price on Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Finally, The Goldman Sachs Group reduced their price target on Medtronic from $82.00 to $81.00 and set a "sell" rating on the stock in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Medtronic has an average rating of "Moderate Buy" and an average price target of $102.41.

Medtronic Stock Performance

Shares of MDT opened at $96.56 on Wednesday. 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's fifty day simple moving average is $93.82 and its two-hundred day simple moving average is $88.85. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. The stock has a market capitalization of $123.86 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data 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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the business 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. As a group, analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given 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 dividend yield of 2.9%. Medtronic's dividend payout ratio (DPR) is 78.24%.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the firm's stock in a transaction on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Company 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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