First Financial Bankshares Inc Boosts Holdings in Medtronic PLC $MDT

Key Points

• First Financial Bankshares Inc increased its holdings in Medtronic PLC by 3.6%, owning approximately 665,475 shares valued at $59.8 million, making Medtronic 1.3% of its investment portfolio.
• Medtronic reported a quarterly earnings per share (EPS) of $1.26, exceeding estimates, with a revenue of $8.58 billion for the quarter, marking a 7.7% year-over-year increase.
• The company announced a quarterly dividend of $0.71 per share, representing a 3.1% yield, with a payout ratio of 78.24% as of the most recent quarter.

First Financial Bankshares Inc increased its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 665,475 shares of the medical technology company's stock after buying an additional 23,010 shares during the quarter. Medtronic comprises approximately 1.3% of First Financial Bankshares Inc's investment portfolio, making the stock its 29th biggest holding. First Financial Bankshares Inc owned 0.05% of Medtronic worth $59,800,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Certior Financial Group LLC grew its holdings in shares of Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock valued at $310,000 after buying an additional 122 shares during the last quarter. Dunhill Financial LLC boosted its holdings in Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after purchasing an additional 124 shares during the last quarter. Cidel Asset Management Inc. boosted its holdings in Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after purchasing an additional 126 shares during the last quarter. Petros Family Wealth LLC boosted its holdings in Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after purchasing an additional 127 shares during the last quarter. Finally, Motco boosted its holdings in Medtronic by 27.0% in the first quarter. Motco now owns 635 shares of the medical technology company's stock valued at $57,000 after purchasing an additional 135 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on MDT. Truist Financial upped their price target on shares of Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a report on Thursday, August 21st. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. BTIG Research reiterated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Robert W. Baird upped their price objective on shares of Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Finally, Mizuho upped their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $102.14.

Medtronic Price Performance

Shares of MDT traded up $0.56 during mid-day trading on Thursday, hitting $92.81. 6,628,194 shares of the company were exchanged, compared to its average volume of 7,641,780. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 2.01. The company has a 50 day moving average of $90.71 and a 200-day moving average of $88.09. The stock has a market cap of $119.05 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The company'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. Analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date 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 presently 78.24%.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the business's stock in a transaction on Monday, August 25th. The stock was bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.26% of the company's stock.

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.