FCG Investment Co Purchases New Shares in Medtronic PLC $MDT

Key Points

• FCG Investment Co has acquired a new stake in Medtronic PLC by purchasing 4,152 shares valued at approximately $373,000.
• Medtronic reported earnings of $1.62 per share, surpassing analysts' expectations of $1.58, with revenue of $8.93 billion, a 3.9% increase year-over-year.
• The company declared a quarterly dividend of $0.71 per share, translating to an annualized dividend yield of 3.1%, with a payout ratio of 78.45%.

FCG Investment Co purchased a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,152 shares of the medical technology company's stock, valued at approximately $373,000.

Several other institutional investors also recently modified their holdings of MDT. Seven Mile Advisory grew its position in shares of Medtronic by 5.6% in the 1st quarter. Seven Mile Advisory now owns 2,736 shares of the medical technology company's stock valued at $246,000 after buying an additional 145 shares during the last quarter. Northwest & Ethical Investments L.P. raised its position in shares of Medtronic by 48.7% during the first quarter. Northwest & Ethical Investments L.P. now owns 33,792 shares of the medical technology company's stock worth $3,037,000 after acquiring an additional 11,070 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Medtronic by 10.1% in the first quarter. Steward Partners Investment Advisory LLC now owns 251,680 shares of the medical technology company's stock worth $22,616,000 after acquiring an additional 23,120 shares during the period. Raymond James Financial Inc. boosted its holdings in Medtronic by 1.5% in the first quarter. Raymond James Financial Inc. now owns 10,838,702 shares of the medical technology company's stock valued at $973,966,000 after acquiring an additional 163,536 shares during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its holdings in Medtronic by 10.7% in the first quarter. Tocqueville Asset Management L.P. now owns 212,597 shares of the medical technology company's stock valued at $19,104,000 after acquiring an additional 20,466 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

MDT has been the subject of several analyst reports. BTIG Research restated a "neutral" rating on shares of Medtronic in a report on Friday, July 11th. Morgan Stanley reissued an "overweight" rating and set a $107.00 target price (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Leerink Partners initiated coverage on shares of Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 target price on the stock. Robert W. Baird increased their price target on Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, UBS Group lifted their price objective on Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, Medtronic has an average rating of "Moderate Buy" and an average price target of $98.63.

Medtronic Stock Up 3.6%

Shares of NYSE:MDT traded up $3.2320 during trading on Wednesday, reaching $93.1320. 13,227,037 shares of the stock were exchanged, compared to its average volume of 7,761,599. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The stock has a fifty day moving average of $89.47 and a two-hundred day moving average of $87.98. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The firm has a market cap of $119.38 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last announced 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 net margin of 13.90% and a return on equity of 14.54%. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the business posted $1.23 EPS. Medtronic's quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid 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 78.45%.

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.