Medtronic PLC $MDT Shares Bought by Focus Partners Wealth

Key Points

• Focus Partners Wealth increased its stake in Medtronic PLC by 6.3% in the first quarter, acquiring an additional 12,533 shares, bringing its total holdings to 211,536 shares valued at approximately $19 million.
• Medtronic reported a quarterly EPS of $1.26, surpassing analysts' expectations of $1.23, with a year-over-year revenue growth of 7.7%.
• The company announced a quarterly dividend of $0.71 per share, payable on October 17th, representing a 3.0% yield and a payout ratio of 78.24%.

Focus Partners Wealth boosted its position in Medtronic PLC (NYSE:MDT - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,536 shares of the medical technology company's stock after buying an additional 12,533 shares during the quarter. Focus Partners Wealth's holdings in Medtronic were worth $19,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of MDT. 1248 Management LLC bought a new stake in Medtronic in the first quarter valued at approximately $26,000. Burkett Financial Services LLC lifted its stake in Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares during the period. Columbia River Financial Group LLC bought a new position in Medtronic in the first quarter worth $28,000. Twin Tree Management LP bought a new position in Medtronic in the first quarter worth $29,000. Finally, Activest Wealth Management raised its holdings in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after purchasing an additional 322 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Trading Down 0.6%

Shares of Medtronic stock traded down $0.56 on Monday, reaching $93.48. The company had a trading volume of 5,715,769 shares, compared to its average volume of 7,579,335. The firm's 50-day moving average price is $91.50 and its two-hundred day moving average price is $88.25. 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 current ratio of 2.01 and a quick ratio of 1.50. The firm has a market cap of $119.90 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 2.48 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the previous year, the business earned $1.23 EPS. Medtronic'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. As a group, research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal 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 issued 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 presently 78.24%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Evercore ISI raised 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. Truist Financial raised their target price on Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research report on Thursday, August 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $107.00 price objective (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Finally, Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. One equities research 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $102.14.

Insider Buying and Selling at Medtronic

In other Medtronic 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 value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Jellison bought 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents 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 corporate insiders.

About Medtronic

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.