JB Capital LLC Buys 6,515 Shares of Medtronic PLC $MDT

Key Points

• JB Capital LLC has increased its stake in Medtronic PLC by 5.4%, now owning 127,463 shares valued at approximately $11.1 million after acquiring an additional 6,515 shares.
• Medtronic reported a quarterly earnings of $1.26 per share, exceeding analysts' expectations of $1.23, with total revenue of $8.58 billion, up 7.7% year-over-year.
• The company is set to pay a quarterly dividend of $0.71 per share on October 17, representing an annual yield of 2.9% based on its current stock price.

JB Capital LLC raised its stake in Medtronic PLC (NYSE:MDT - Free Report) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,463 shares of the medical technology company's stock after acquiring an additional 6,515 shares during the quarter. JB Capital LLC's holdings in Medtronic were worth $11,111,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MDT. Brighton Jones LLC increased its holdings in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Medtronic by 41.1% during the first quarter. GAMMA Investing LLC now owns 15,882 shares of the medical technology company's stock worth $1,427,000 after purchasing an additional 4,626 shares during the period. Trueblood Wealth Management LLC acquired a new position in shares of Medtronic during the first quarter worth $209,000. CX Institutional increased its position in shares of Medtronic by 8.0% during the first quarter. CX Institutional now owns 7,702 shares of the medical technology company's stock worth $692,000 after acquiring an additional 568 shares in the last quarter. Finally, Focus Financial Network Inc. boosted its holdings in Medtronic by 3.4% during the first quarter. Focus Financial Network Inc. now owns 35,945 shares of the medical technology company's stock worth $3,230,000 after purchasing an additional 1,176 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent research reports. Leerink Partners began coverage on shares of Medtronic in a research note on Monday, June 16th. They set an "outperform" rating and a $110.00 price target on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. UBS Group increased their price target on shares of Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Weiss Ratings reissued a "buy (b-)" rating on shares of Medtronic in a report on Wednesday. Finally, Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Medtronic presently has a consensus rating of "Moderate Buy" and an average target price of $101.82.

Insiders Place Their Bets

In other news, Director William R. Jellison acquired 2,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were 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 of the company's stock, valued at approximately $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business's 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 transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

Medtronic Trading Down 1.5%

Shares of MDT opened at $96.42 on Friday. The company's fifty day moving average is $93.44 and its 200 day moving average is $88.69. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The stock has a market capitalization of $123.68 billion, a PE ratio of 26.56, a P/E/G ratio of 2.58 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.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share 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 quarter in the previous year, the business posted $1.23 earnings per share. Medtronic's quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed 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 is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. Medtronic's payout ratio is 78.24%.

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.

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