Medtronic PLC $MDT Shares Purchased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Medtronic PLC by 69.7%, owning 194,771 shares valued at over $17 million after purchasing an additional 79,970 shares in the first quarter.
• Other institutional investors also boosted their positions, with Boston Partners increasing its stake by 122.8% and Ameriprise Financial raising its stake by 28.8% during the same period.
• Recently, Medtronic reported a quarterly earnings per share of $1.26, exceeding expectations, and announced a dividend of $0.71 per share, signaling a 3.0% yield for investors.

Intech Investment Management LLC increased its stake in Medtronic PLC (NYSE:MDT - Free Report) by 69.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,771 shares of the medical technology company's stock after purchasing an additional 79,970 shares during the quarter. Intech Investment Management LLC's holdings in Medtronic were worth $17,502,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MDT. Brighton Jones LLC increased its holdings in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares in the last quarter. CoreCap Advisors LLC increased its holdings in Medtronic by 16.8% during the 4th quarter. CoreCap Advisors LLC now owns 2,244 shares of the medical technology company's stock valued at $179,000 after acquiring an additional 322 shares in the last quarter. Focus Partners Wealth increased its holdings in Medtronic by 100.2% during the 4th quarter. Focus Partners Wealth now owns 199,003 shares of the medical technology company's stock valued at $16,345,000 after acquiring an additional 99,587 shares in the last quarter. Graham Capital Management L.P. purchased a new position in Medtronic during the 4th quarter valued at about $1,322,000. Finally, Laird Norton Wetherby Wealth Management LLC increased its holdings in Medtronic by 6.6% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 19,840 shares of the medical technology company's stock valued at $1,585,000 after acquiring an additional 1,232 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Trading Down 0.2%

Shares of Medtronic stock traded down $0.20 during mid-day trading on Friday, hitting $94.05. 7,334,188 shares of the stock were exchanged, compared to its average volume of 6,888,095. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The stock has a market capitalization of $120.64 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. The company has a 50-day simple moving average of $91.50 and a 200 day simple moving average of $88.28. 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 (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 (EPS) 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 company had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same period last year, the company earned $1.23 EPS. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Insider Activity at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction that occurred 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 directly owned 35,615 shares in the company, valued at $3,261,621.70. This 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 currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on MDT. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Sanford C. Bernstein raised their target price on shares of Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Robert W. Baird raised their target price on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Mizuho raised 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. Finally, Argus raised their price target on shares of Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $102.14.

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.