Financial Partners Group LLC Boosts Holdings in Medtronic PLC $MDT

Key Points

• Financial Partners Group LLC increased its stake in Medtronic PLC by 7.2%, owning a total of 47,166 shares valued at approximately $4.11 million as of the latest SEC filing.
• Medtronic reported a quarterly EPS of $1.26, exceeding analysts' expectations of $1.23, with revenue of $8.58 billion, which is a 7.7% increase compared to the same period last year.
• The company has declared a quarterly dividend of $0.71 per share, representing an annualized yield of 3.0%, with a payout ratio of 78.24%.

Financial Partners Group LLC increased its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,166 shares of the medical technology company's stock after purchasing an additional 3,152 shares during the period. Medtronic accounts for 1.5% of Financial Partners Group LLC's holdings, making the stock its 24th biggest holding. Financial Partners Group LLC's holdings in Medtronic were worth $4,111,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Legacy Advisory Services LLC purchased a new stake in shares of Medtronic during the 1st quarter worth approximately $541,000. RNC Capital Management LLC raised its holdings in shares of Medtronic by 8.8% during the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company's stock worth $37,474,000 after acquiring an additional 33,729 shares in the last quarter. Commerce Bank raised its holdings in shares of Medtronic by 1.7% during the 1st quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock worth $13,118,000 after acquiring an additional 2,429 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Medtronic by 1,368.0% during 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 in the last quarter. Finally, Cullen Investment Group LTD. raised its holdings in shares of Medtronic by 7.2% during the 2nd quarter. Cullen Investment Group LTD. now owns 85,921 shares of the medical technology company's stock worth $7,490,000 after acquiring an additional 5,802 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

MDT opened at $94.34 on Friday. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25. 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 business's fifty day simple moving average is $92.57 and its 200-day simple moving average is $88.38. The company has a market capitalization of $121.01 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 2.48 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The business's 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 anticipate 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. Stockholders of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic's dividend payout ratio is presently 78.24%.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent research reports. Mizuho upped their price objective on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Wells Fargo & Company increased their price target on Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. William Blair upgraded Medtronic to a "hold" rating in a report on Friday, July 11th. Truist Financial increased their price target on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a report on Thursday, August 21st. Finally, Morgan Stanley restated an "overweight" rating and set a $107.00 price target (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $102.27.

Insiders Place Their Bets

In related 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 completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director William R. Jellison acquired 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at $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 currently owned by corporate insiders.

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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