Medtronic PLC $MDT Shares Bought by Kimelman & Baird LLC

Key Points

• Kimelman & Baird LLC significantly increased its holdings in Medtronic PLC by 3,146.6%, acquiring an additional 6,010 shares in the first quarter, bringing their total to 6,201 shares valued at $557,000.
• Medtronic recently reported quarterly earnings of $1.62 per share, exceeding expectations, with revenue of $8.93 billion, representing a year-over-year growth of 3.9%.
• The company raised its quarterly dividend to $0.71 per share, increasing from the previous $0.70, which indicates a 3.1% yield and a dividend payout ratio of 78.45%.

Kimelman & Baird LLC raised its stake in Medtronic PLC (NYSE:MDT - Free Report) by 3,146.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,201 shares of the medical technology company's stock after acquiring an additional 6,010 shares during the period. Kimelman & Baird LLC's holdings in Medtronic were worth $557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Burkett Financial Services LLC lifted its stake in shares of Medtronic by 185.0% in the 1st 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 during the period. Columbia River Financial Group LLC bought a new stake in shares of Medtronic in the 1st quarter valued at about $28,000. Wood Tarver Financial Group LLC acquired a new position in shares of Medtronic during the 4th quarter worth approximately $27,000. Hughes Financial Services LLC acquired a new position in Medtronic in the 1st quarter valued at about $32,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Medtronic during the fourth quarter worth $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Robert W. Baird reduced their price target on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Citigroup boosted their price target on shares of Medtronic from $98.00 to $99.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Royal Bank Of Canada cut their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Finally, Evercore ISI increased their price objective on Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.19.

Medtronic Stock Performance

NYSE:MDT traded down $2.8940 during mid-day trading on Tuesday, hitting $89.9160. 19,070,785 shares of the company traded hands, compared to its average volume of 7,701,222. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The firm has a market cap of $115.26 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 2.42 and a beta of 0.80. The stock's fifty day moving average price is $89.43 and its 200-day moving average price is $87.97.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. The company had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. Medtronic's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, September 26th. Medtronic's payout ratio is currently 78.45%.

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.