Financial Perspectives Inc Has $19.08 Million Stock Holdings in Medtronic PLC $MDT

Key Points

• Financial Perspectives Inc reduced its holdings in Medtronic PLC by 1.8%, ending with 218,918 shares worth approximately $19.08 million, making it the largest position in its portfolio.
• Medtronic recently declared a quarterly dividend of $0.71 per share, resulting in an annualized yield of 3.0% and a payout ratio of 78.24%.
• Various institutional investors have increased their stakes in Medtronic, with significant purchases from firms like Vanguard Group, which now holds over $11 billion worth of shares.

Financial Perspectives Inc cut its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 218,918 shares of the medical technology company's stock after selling 4,061 shares during the period. Medtronic comprises 5.8% of Financial Perspectives Inc's portfolio, making the stock its biggest position. Financial Perspectives Inc's holdings in Medtronic were worth $19,083,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Vanguard Group Inc. increased its holdings in shares of Medtronic by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock valued at $11,233,780,000 after acquiring an additional 810,854 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Medtronic by 7.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock valued at $2,001,903,000 after acquiring an additional 1,461,841 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Medtronic by 3.8% in the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock valued at $1,858,332,000 after acquiring an additional 756,192 shares during the period. Deutsche Bank AG increased its holdings in shares of Medtronic by 3.1% in the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock valued at $1,708,220,000 after acquiring an additional 566,155 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Medtronic by 9.9% in the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock valued at $1,525,876,000 after acquiring an additional 1,535,308 shares during the period. 82.06% of the stock is owned by institutional investors.

Insider Activity

In other Medtronic 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by insiders.

Medtronic Trading Up 0.6%

Shares of NYSE:MDT opened at $95.62 on Monday. 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 business's 50-day moving average is $94.07 and its 200 day moving average is $88.99. The firm has a market capitalization of $122.65 billion, a P/E ratio of 26.34, a P/E/G ratio of 2.52 and a beta of 0.78. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37.

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 for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, 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 was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic's payout ratio is presently 78.24%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MDT shares. Evercore ISI lifted their price target on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Daiwa Capital Markets lifted their price target on Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a report on Friday, September 12th. Citigroup upped their target price on Medtronic from $101.00 to $112.00 and gave the company a "buy" rating in a research report on Tuesday, October 7th. BTIG Research reaffirmed a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Finally, Wall Street Zen lowered Medtronic from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Medtronic 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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