Klein Pavlis & Peasley Financial Inc. Increases Holdings in Medtronic PLC $MDT

Key Points

• Klein Pavlis & Peasley Financial Inc. increased its stake in Medtronic PLC by 14.7% during the second quarter, holding 43,993 shares valued at approximately $3.8 million.
• Medtronic recently reported earnings that exceeded expectations, with a net revenue of $8.58 billion for the quarter, a 7.7% year-over-year increase.
• The company announced a quarterly dividend of $0.71, with a dividend yield of 3.0%, scheduled for payment on October 17th.

Klein Pavlis & Peasley Financial Inc. increased its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 14.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,993 shares of the medical technology company's stock after buying an additional 5,629 shares during the period. Medtronic comprises about 2.6% of Klein Pavlis & Peasley Financial Inc.'s holdings, making the stock its 11th biggest position. Klein Pavlis & Peasley Financial Inc.'s holdings in Medtronic were worth $3,835,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in MDT. Genesis Private Wealth LLC boosted its stake in Medtronic by 24.8% in the second quarter. Genesis Private Wealth LLC now owns 3,276 shares of the medical technology company's stock valued at $286,000 after acquiring an additional 651 shares during the last quarter. First County Bank CT grew its holdings in Medtronic by 47.5% during the second quarter. First County Bank CT now owns 4,041 shares of the medical technology company's stock valued at $352,000 after purchasing an additional 1,302 shares during the period. Sonora Investment Management Group LLC increased its position in Medtronic by 5.9% in the second quarter. Sonora Investment Management Group LLC now owns 144,783 shares of the medical technology company's stock worth $12,621,000 after buying an additional 8,046 shares during the last quarter. Stockman Wealth Management Inc. increased its position in Medtronic by 4.0% in the second quarter. Stockman Wealth Management Inc. now owns 118,492 shares of the medical technology company's stock worth $10,329,000 after buying an additional 4,515 shares during the last quarter. Finally, Financial Partners Group LLC raised its stake in shares of Medtronic by 7.2% in the second quarter. Financial Partners Group LLC now owns 47,166 shares of the medical technology company's stock valued at $4,111,000 after buying an additional 3,152 shares during the period. Institutional investors own 82.06% of the company's stock.

Insider Transactions at Medtronic

In related news, Director William R. Jellison acquired 2,500 shares of the stock in a transaction 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 acquisition, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the executive vice president owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. The trade was 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MDT shares. Evercore ISI lifted their price objective on Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. William Blair raised shares of Medtronic to a "hold" rating in a report on Friday, July 11th. Finally, Leerink Partners started coverage on shares of Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $102.27.

Medtronic Stock Performance

NYSE:MDT opened at $94.34 on Monday. The company has a market capitalization of $121.01 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 2.48 and a beta of 0.77. The business has a 50 day moving average of $92.57 and a 200 day moving average of $88.35. 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 PLC has a 1-year low of $79.29 and a 1-year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating 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 business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the business posted $1.23 earnings per share. The company's revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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