Ellsworth Advisors LLC Invests $5.39 Million in Medtronic PLC $MDT

Key Points

• Ellsworth Advisors LLC invested approximately $5.39 million in Medtronic PLC, acquiring nearly 60,000 shares, which represents about 1.4% of its total holdings.
• Medtronic recently reported earnings of $1.26 per share for the quarter, exceeding analyst expectations, with a revenue increase of 7.7% year-over-year.
• The company announced a $0.71 quarterly dividend, with an upcoming payment date of October 17th and a yield of 3.1%.

Ellsworth Advisors LLC acquired a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,953 shares of the medical technology company's stock, valued at approximately $5,387,000. Medtronic accounts for approximately 1.4% of Ellsworth Advisors LLC's holdings, making the stock its 22nd biggest holding.

Several other large investors also recently modified their holdings of MDT. Burkett Financial Services LLC increased its position in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after buying an additional 185 shares during the period. 1248 Management LLC acquired a new stake in shares of Medtronic during the first quarter worth $26,000. Wood Tarver Financial Group LLC acquired a new stake in Medtronic in the fourth quarter worth $27,000. Columbia River Financial Group LLC acquired a new stake in Medtronic in the first quarter worth $28,000. Finally, Twin Tree Management LP acquired a new stake in Medtronic in the first quarter worth $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William R. Jellison purchased 2,500 shares of the business's stock in a transaction that occurred on 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 acquisition, the director owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the business's 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 owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MDT shares. Morgan Stanley restated an "overweight" rating and issued a $107.00 price target (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Evercore ISI raised their price target on shares of Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Finally, Wells Fargo & Company raised their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and a consensus target price of $102.14.

Medtronic Stock Down 1.8%

Medtronic stock opened at $92.38 on Thursday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The firm has a market capitalization of $118.49 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 2.39 and a beta of 0.77. The firm's fifty day moving average price is $91.27 and its two-hundred day moving average price is $88.23. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

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 for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the firm earned $1.23 earnings per share. The business's quarterly 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. On average, equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic's payout ratio is 78.24%.

Medtronic Company 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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