Medtronic PLC $MDT Shares Acquired by EP Wealth Advisors LLC

Key Points

• EP Wealth Advisors LLC increased its stake in Medtronic PLC by 163.9%, acquiring an additional 21,221 shares to reach a total of 34,165 shares valued at approximately $3,070,000.
• Medtronic reported quarterly earnings of $1.26 per share, exceeding analysts' expectations of $1.23, with revenues reaching $8.58 billion, a 7.7% increase year-over-year.
• The company declared a quarterly dividend of $0.71 per share, scheduled for payment on October 17th, representing an annualized dividend yield of 3.1%.

EP Wealth Advisors LLC increased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 163.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,165 shares of the medical technology company's stock after acquiring an additional 21,221 shares during the period. EP Wealth Advisors LLC's holdings in Medtronic were worth $3,070,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after acquiring an additional 37,265 shares during the period. Bridgefront Capital LLC acquired a new stake in Medtronic in the fourth quarter valued at $277,000. CoreCap Advisors LLC increased its position in shares of Medtronic by 16.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,244 shares of the medical technology company's stock valued at $179,000 after buying an additional 322 shares in the last quarter. Diligent Investors LLC increased its position in shares of Medtronic by 3.2% in the fourth quarter. Diligent Investors LLC now owns 9,616 shares of the medical technology company's stock valued at $768,000 after buying an additional 300 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Medtronic by 2.1% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Activity

In other news, 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 completion of the sale, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Jellison purchased 2,500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director directly owned 5,000 shares of the company's stock, valued at $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company's stock.

Medtronic Trading Up 0.1%

MDT stock traded up $0.08 during midday trading on Friday, hitting $92.93. The stock had a trading volume of 4,856,702 shares, compared to its average volume of 7,029,722. The company's 50-day moving average price is $90.97 and its 200 day moving average price is $88.13. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The firm has a market cap of $119.20 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25.

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, topping the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 earnings per share. 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. Shareholders 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 yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's payout ratio is 78.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MDT shares. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Mizuho upped their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Wells Fargo & Company increased their price target 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. Truist Financial lifted their price objective on Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research report on Thursday, August 21st. Finally, Citigroup upped their target price on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock 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.