Dynamic Technology Lab Private Ltd Buys Shares of 18,794 Medtronic PLC $MDT

Key Points

• Dynamic Technology Lab Private Ltd invested approximately $1.69 million in Medtronic PLC by acquiring 18,794 shares during the first quarter.
• Medtronic recently announced a quarterly dividend of $0.71 per share, representing an annualized yield of 3.1%, with the payment date set for October 17th.
• Research analysts have a consensus rating of "Moderate Buy" for Medtronic, with a target price of $102.14, following upgrades from multiple institutions in recent reports.

Dynamic Technology Lab Private Ltd purchased a new stake in Medtronic PLC (NYSE:MDT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 18,794 shares of the medical technology company's stock, valued at approximately $1,689,000.

Other institutional investors have also modified their holdings of the company. Certior Financial Group LLC raised its stake in shares of Medtronic by 3.7% in the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock valued at $310,000 after acquiring an additional 122 shares in the last quarter. Dunhill Financial LLC increased its holdings in Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after purchasing an additional 124 shares during the period. Cidel Asset Management Inc. raised its position in Medtronic by 1.3% in the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after purchasing an additional 126 shares in the last quarter. Petros Family Wealth LLC raised its position in Medtronic by 4.3% in the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after purchasing an additional 127 shares in the last quarter. Finally, Motco boosted its stake in shares of Medtronic by 27.0% in the 1st quarter. Motco now owns 635 shares of the medical technology company's stock valued at $57,000 after buying an additional 135 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the stock in a transaction dated 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 transaction, the director owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 completion of the transaction, 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 disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Wells Fargo & Company increased their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Argus raised their price objective on shares of Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Finally, Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $102.14.

Medtronic Stock Up 1.1%

Shares of NYSE MDT traded up $1.05 during mid-day trading on Tuesday, reaching $94.04. The company had a trading volume of 7,032,350 shares, compared to its average volume of 6,852,776. The firm has a 50 day simple moving average of $91.19 and a two-hundred day simple moving average of $88.20. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25. 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 stock has a market cap of $120.62 billion, a P/E ratio of 25.91, a PEG ratio of 2.36 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last released 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 net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. Medtronic'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 predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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 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 yield of 3.0%. Medtronic's 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.