Jones Financial Companies Lllp Buys 168,092 Shares of Medtronic PLC $MDT

Key Points

• Jones Financial Companies Lllp increased its stake in Medtronic PLC by 32.2%, purchasing 168,092 shares during the first quarter, bringing its total ownership to approximately $60.8 million.
• The company has announced a quarterly dividend of $0.71 per share, with the payout scheduled for October 17th and an annualized yield of 3.0%.
• Medtronic's recent earnings report showed an EPS of $1.26, surpassing expectations, with revenue growth of 7.7% year-over-year.

Jones Financial Companies Lllp grew its position in Medtronic PLC (NYSE:MDT - Free Report) by 32.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 690,119 shares of the medical technology company's stock after purchasing an additional 168,092 shares during the quarter. Jones Financial Companies Lllp owned about 0.05% of Medtronic worth $60,777,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Legacy Advisory Services LLC bought a new stake in Medtronic during the first quarter worth $541,000. Commerce Bank increased its holdings in Medtronic by 1.7% in the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock valued at $13,118,000 after purchasing an additional 2,429 shares during the period. RNC Capital Management LLC grew its holdings in Medtronic by 8.8% during the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company's stock worth $37,474,000 after acquiring an additional 33,729 shares during the period. Brighton Jones LLC boosted its position in shares of Medtronic by 1,368.0% during the 4th 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 in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Medtronic in the 1st quarter valued at about $1,689,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 transaction, the executive vice president directly owned 35,615 shares of the company's stock, valued at approximately $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. Company insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective 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. Mizuho boosted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Leerink Partners began coverage on shares of Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective on the stock. Argus upped their price objective on shares of Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and an average price target of $102.14.

Medtronic Stock Down 0.2%

Shares of MDT stock opened at $94.05 on Friday. The company has a market capitalization of $120.64 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.48 and a beta of 0.77. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The company's fifty day moving average price is $91.50 and its 200-day moving average price is $88.27. 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 quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company's revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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 paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is presently 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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