Hudson Edge Investment Partners Inc. Raises Holdings in Medtronic PLC $MDT

Key Points

• Hudson Edge Investment Partners Inc. increased its holdings in Medtronic PLC by 13.6%, bringing its total shares to 77,106, valued at approximately $6.72 million.
• Medtronic's stock has received overall positive feedback from analysts, with an average rating of "Moderate Buy" and a price target increase to $102.27.
• The company recently declared a quarterly dividend of $0.71, reflecting an annual yield of 3.0%, with a payout ratio of 78.24%.

Hudson Edge Investment Partners Inc. increased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 13.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,106 shares of the medical technology company's stock after buying an additional 9,260 shares during the period. Medtronic comprises approximately 1.1% of Hudson Edge Investment Partners Inc.'s holdings, making the stock its 21st largest holding. Hudson Edge Investment Partners Inc.'s holdings in Medtronic were worth $6,721,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in Medtronic during the 1st quarter valued at about $26,000. Burkett Financial Services LLC boosted its stake in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after purchasing an additional 185 shares in the last quarter. Columbia River Financial Group LLC purchased a new position in Medtronic during the first quarter valued at approximately $28,000. Twin Tree Management LP purchased a new position in Medtronic during the first quarter valued at approximately $29,000. Finally, Activest Wealth Management raised its stake 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 buying an additional 322 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. William Blair raised Medtronic to a "hold" rating in a research report on Friday, July 11th. Morgan Stanley reaffirmed an "overweight" rating and set a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. Robert W. Baird raised their price target on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Finally, Daiwa Capital Markets boosted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $102.27.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director directly 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. Company insiders own 0.26% of the company's stock.

Medtronic Stock Up 0.8%

Shares of MDT stock opened at $95.57 on Friday. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The firm has a market capitalization of $122.59 billion, a PE ratio of 26.33, a P/E/G ratio of 2.50 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The stock's 50-day simple moving average is $92.85 and its 200-day simple moving average is $88.46.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 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 firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. Medtronic'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. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic's dividend payout ratio is presently 78.24%.

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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