Godsey & Gibb Inc. Grows Position in Medtronic PLC $MDT

Key Points

• Godsey & Gibb Inc. increased its holdings in Medtronic PLC by 1.7%, now owning approximately 244,536 shares valued at $21.3 million, making it the firm's 28th largest investment.
• Medtronic recently reported earnings of $1.26 per share, exceeding expectations, with revenue of $8.58 billion for the quarter, up 7.7% year-over-year.
• The company declared a quarterly dividend of $0.71 per share, yielding 2.9%, with the payment date set for October 17th to shareholders of record by September 26th.

Godsey & Gibb Inc. raised its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,536 shares of the medical technology company's stock after buying an additional 4,085 shares during the period. Medtronic comprises approximately 2.0% of Godsey & Gibb Inc.'s investment portfolio, making the stock its 28th biggest position. Godsey & Gibb Inc.'s holdings in Medtronic were worth $21,316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Medtronic by 0.7% during the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock worth $11,233,780,000 after purchasing an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Medtronic by 7.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock worth $2,001,903,000 after purchasing an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Medtronic by 3.8% during 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 last quarter. Deutsche Bank AG raised its position in Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock valued at $1,708,220,000 after purchasing an additional 566,155 shares during the period. Finally, Invesco Ltd. lifted its position in Medtronic by 9.9% in the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock valued at $1,525,876,000 after buying an additional 1,535,308 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MDT has been the topic of several analyst reports. Leerink Partners started coverage on Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective on the stock. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Mizuho raised their price objective on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Citigroup upped their target price on shares of Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.94.

Medtronic Trading Up 0.8%

Medtronic stock opened at $98.46 on Tuesday. Medtronic PLC has a one year low of $79.29 and a one year high of $98.66. The company has a market cap of $126.29 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 2.57 and a beta of 0.78. The firm has a 50-day moving average of $93.07 and a 200-day moving average of $88.52. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT - Get Free Report) last announced its 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. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts expect 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. Shareholders 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 annualized dividend and a yield of 2.9%. Medtronic's dividend payout ratio is presently 78.24%.

Insider Buying and Selling

In related news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the business'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 owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company 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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