Edmond DE Rothschild Holding S.A. Raises Stake in Medtronic PLC $MDT

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in Medtronic PLC by 0.9% during the 1st quarter, now holding 681,246 shares valued at approximately $61.2 million.
• Several other institutional investors have also recently adjusted their holdings, with 82.06% of Medtronic stock now owned by institutions and hedge funds.
• Medtronic reported a quarterly revenue of $8.58 billion, exceeding analyst expectations, while announcing a quarterly dividend of $0.71 per share, yielding 3.1%.

Edmond DE Rothschild Holding S.A. grew its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 681,246 shares of the medical technology company's stock after acquiring an additional 6,388 shares during the quarter. Medtronic comprises 1.1% of Edmond DE Rothschild Holding S.A.'s holdings, making the stock its 17th largest holding. Edmond DE Rothschild Holding S.A. owned 0.05% of Medtronic worth $61,217,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDT. Brighton Jones LLC increased its holdings in shares of Medtronic by 1,368.0% during the fourth 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 in the last quarter. Bridgefront Capital LLC bought a new stake in Medtronic during the fourth quarter worth $277,000. CoreCap Advisors LLC grew its holdings in Medtronic by 16.8% during the fourth quarter. CoreCap Advisors LLC now owns 2,244 shares of the medical technology company's stock worth $179,000 after buying an additional 322 shares in the last quarter. Diligent Investors LLC grew its holdings in Medtronic by 3.2% during the fourth quarter. Diligent Investors LLC now owns 9,616 shares of the medical technology company's stock worth $768,000 after buying an additional 300 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Medtronic by 2.1% during the fourth quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company's stock worth $1,473,278,000 after buying an additional 372,168 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction on 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 owned 35,615 shares of the company's stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director directly owned 5,000 shares in the company, 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 Stock Performance

MDT stock traded up $0.08 during midday trading on Friday, hitting $92.93. The company's stock had a trading volume of 4,856,702 shares, compared to its average volume of 7,029,722. The stock's 50-day moving average price is $90.97 and its 200 day moving average price is $88.14. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25. The stock has a market cap of $119.20 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 2.36 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 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 firm had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio is currently 78.24%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MDT. Sanford C. Bernstein upped their price target on Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Evercore ISI upped their price target on Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Argus upped their price target on Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. BTIG Research reiterated a "neutral" rating on shares of Medtronic in a report on Friday, July 11th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.14.

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.