DMKC Advisory Services LLC Boosts Stock Position in Medtronic PLC $MDT

Key Points

• DMKC Advisory Services LLC increased its stake in Medtronic PLC by 16.0%, now holding 24,022 shares valued at approximately $2.15 million following the acquisition of 3,306 additional shares.
• Medtronic's recent quarterly earnings report revealed earnings per share (EPS) of $1.26, beating estimates and showcasing a 7.7% year-over-year revenue growth to $8.58 billion.
• The company announced a quarterly dividend of $0.71 per share, reflecting an annual yield of 3.0%, with the ex-dividend date set for September 26th.

DMKC Advisory Services LLC boosted its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 16.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,022 shares of the medical technology company's stock after acquiring an additional 3,306 shares during the period. DMKC Advisory Services LLC's holdings in Medtronic were worth $2,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1248 Management LLC bought a new position in Medtronic in the 1st quarter worth $26,000. Burkett Financial Services LLC lifted its position in shares of Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares in the last quarter. Columbia River Financial Group LLC bought a new stake in Medtronic during the 1st quarter valued at approximately $28,000. Twin Tree Management LP bought a new stake in Medtronic during the 1st quarter valued at approximately $29,000. Finally, Activest Wealth Management raised its stake in Medtronic by 3,577.8% during the 1st 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 period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $107.00 price objective (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Wells Fargo & Company upped their target price 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. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.27.

Medtronic Price Performance

Medtronic stock opened at $94.85 on Thursday. The firm's fifty day moving average is $92.78 and its 200 day moving average is $88.45. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The company has a market cap of $121.66 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 2.51 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the company earned $1.23 EPS. The company'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. Sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal 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 dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic's payout ratio is 78.24%.

Insiders Place Their Bets

In other news, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares of the company's stock, valued at approximately $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. 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.

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.