Foster & Motley Inc. Has $3.33 Million Stock Holdings in Medtronic PLC $MDT

Key Points

• Foster & Motley Inc. increased its holdings in Medtronic PLC by 9.5% in Q2, owning a total of $3.33 million worth of stock.
• Medtronic reported a quarterly earnings per share of $1.26, beating estimates and showing a 7.7% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.71, reflecting an annualized yield of 3.0% with a payout ratio of 78.24%.

Foster & Motley Inc. raised its stake in Medtronic PLC (NYSE:MDT - Free Report) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,185 shares of the medical technology company's stock after buying an additional 3,305 shares during the quarter. Foster & Motley Inc.'s holdings in Medtronic were worth $3,329,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MDT. Red Spruce Capital LLC increased its stake in shares of Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock worth $2,067,000 after purchasing an additional 118 shares during the last quarter. Certior Financial Group LLC increased its stake in shares of Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock worth $310,000 after purchasing an additional 122 shares during the last quarter. Cidel Asset Management Inc. increased its stake in shares of Medtronic by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after purchasing an additional 126 shares during the last quarter. Petros Family Wealth LLC increased its stake in shares of Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after purchasing an additional 127 shares during the last quarter. Finally, PrairieView Partners LLC increased its stake in shares of Medtronic by 3.6% during the 2nd quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company's stock worth $324,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Mizuho increased their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Truist Financial upped their price objective on shares of Medtronic from $96.00 to $103.00 and gave the stock a "hold" rating in a report on Wednesday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Medtronic in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $102.82.

Insiders Place Their Bets

In related news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction 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 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction 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 sale, the executive vice president directly owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. This trade represents 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 Price Performance

NYSE MDT opened at $95.62 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The company has a fifty day simple moving average of $94.07 and a 200 day simple moving average of $88.98. The company has a market cap 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 (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm earned $1.23 EPS. The business's revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic's dividend payout ratio is 78.24%.

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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