Kera Capital Partners Inc. Buys Shares of 3,423 Medtronic PLC $MDT

Key Points

• Kera Capital Partners Inc. has purchased 3,423 shares of Medtronic PLC, valued at approximately $298,000, indicating growing interest from institutional investors.
• Medtronic's shares recently received several upgrades from analysts, with target prices now ranging from $96.00 to $106.00, reflecting a generally positive outlook.
• The company has announced a quarterly dividend of $0.71 per share, with a dividend yield of 3.0%, emphasizing its commitment to returning value to shareholders.

Kera Capital Partners Inc. bought a new stake in shares of Medtronic PLC (NYSE:MDT - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,423 shares of the medical technology company's stock, valued at approximately $298,000.

Several other hedge funds have also made changes to their positions in MDT. Boston Partners boosted its holdings in shares of Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock worth $619,460,000 after purchasing an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock valued at $1,391,141,000 after acquiring an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock valued at $903,915,000 after acquiring an additional 3,017,849 shares during the last quarter. Nuveen LLC acquired a new position in Medtronic in the first quarter valued at $260,649,000. Finally, Burgundy Asset Management Ltd. acquired a new position in Medtronic in the fourth quarter valued at $174,329,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MDT shares. Truist Financial lifted their target price on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a report on Thursday, August 21st. Evercore ISI lifted their target price on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. Mizuho raised their price objective on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $102.14.

Insider Transactions at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares of the company's stock, valued at $3,261,621.70. This trade 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 insiders.

Medtronic Stock Down 0.2%

Shares of NYSE MDT opened at $94.05 on Friday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25. The firm has a market cap of $120.64 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.48 and a beta of 0.77. 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 $91.50 and its 200-day simple moving average is $88.27.

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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the company earned $1.23 earnings per share. The company'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. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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