Kingstone Capital Partners Texas LLC Takes Position in Medtronic PLC $MDT

Key Points

• Kingstone Capital Partners Texas LLC acquired 88,944 shares of Medtronic PLC, valued at approximately $7.38 million, indicating growing institutional interest in the medical technology company.
• Medtronic reported $1.26 EPS for the latest quarter, exceeding analysts' expectations, along with a revenue of $8.58 billion, up 7.7% year-over-year.
• The company announced a quarterly dividend of $0.71 per share, providing an annualized yield of 3.0%, and the ex-dividend date is set for September 26th.

Kingstone Capital Partners Texas LLC purchased a new stake in Medtronic PLC (NYSE:MDT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 88,944 shares of the medical technology company's stock, valued at approximately $7,382,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MDT. Red Spruce Capital LLC boosted its stake in Medtronic by 0.5% in the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock worth $2,067,000 after purchasing an additional 118 shares during the period. Certior Financial Group LLC boosted its stake in Medtronic by 3.7% in the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock worth $310,000 after purchasing an additional 122 shares during the period. Dunhill Financial LLC boosted its stake in Medtronic by 17.2% in the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after purchasing an additional 124 shares during the period. Cidel Asset Management Inc. boosted its stake in Medtronic by 1.3% in the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after purchasing an additional 126 shares during the period. Finally, Petros Family Wealth LLC boosted its stake in Medtronic by 4.3% in the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MDT shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Mizuho upped their target price 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. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Morgan Stanley restated an "overweight" rating and issued a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, Sanford C. Bernstein raised their price objective on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $102.27.

Medtronic Stock Down 0.7%

Medtronic stock opened at $94.91 on Friday. The stock has a market cap of $121.74 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.50 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The company's 50-day moving average price is $92.05 and its two-hundred day moving average price is $88.33.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results 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. 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 firm earned $1.23 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William R. Jellison bought 2,500 shares of the business's stock in a transaction on Monday, August 25th. The stock was bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company's stock.

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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