Medtronic PLC $MDT Shares Acquired by Federation des caisses Desjardins du Quebec

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in Medtronic PLC by 30.0%, acquiring an additional 135,057 shares, bringing its total ownership to 584,978 shares valued at approximately $52.57 million.
• Medtronic reported a 7.7% increase in revenue year-over-year for the quarter, with earnings per share of $1.26, surpassing analysts' expectations of $1.23.
• The company announced a quarterly dividend of $0.71, set to be paid on October 17th, which corresponds to an annualized yield of 3.1%.

Federation des caisses Desjardins du Quebec lifted its stake in Medtronic PLC (NYSE:MDT - Free Report) by 30.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 584,978 shares of the medical technology company's stock after buying an additional 135,057 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Medtronic were worth $52,566,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its stake in 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 purchasing an additional 37,265 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in Medtronic by 145.0% during the fourth quarter. Aptus Capital Advisors LLC now owns 28,179 shares of the medical technology company's stock valued at $2,267,000 after purchasing an additional 16,679 shares in the last quarter. Baker Avenue Asset Management LP raised its stake in Medtronic by 8.3% during the fourth quarter. Baker Avenue Asset Management LP now owns 4,422 shares of the medical technology company's stock valued at $353,000 after purchasing an additional 338 shares in the last quarter. Baird Financial Group Inc. raised its stake in Medtronic by 6.1% during the fourth quarter. Baird Financial Group Inc. now owns 977,630 shares of the medical technology company's stock valued at $78,093,000 after purchasing an additional 56,034 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in Medtronic by 350.9% during the fourth quarter. Brown Advisory Inc. now owns 1,125,029 shares of the medical technology company's stock valued at $89,867,000 after purchasing an additional 875,531 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Transactions at Medtronic

In related news, Director William R. Jellison acquired 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred 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 of the company's stock, 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 owned by corporate insiders.

Medtronic Trading Up 0.1%

Shares of NYSE MDT traded up $0.08 during mid-day trading on Friday, reaching $92.93. The company had a trading volume of 4,856,702 shares, compared to its average volume of 7,029,722. The business's 50-day moving average is $90.97 and its 200-day moving average is $88.13. 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 $119.20 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 analysts' expectations of $8.37 billion. During the same period in the prior year, the business posted $1.23 earnings per share. The business'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. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MDT. Argus upped their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. William Blair upgraded shares of Medtronic to a "hold" rating in a research report on Friday, July 11th. Royal Bank Of Canada cut their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Robert W. Baird boosted their price objective on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $102.14.

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.