LVW Advisors LLC Grows Stock Position in Medtronic PLC $MDT

Key Points

• LVW Advisors LLC increased its stake in Medtronic PLC by 13.4% during the 2nd quarter, now holding 27,889 shares worth approximately $2.43 million.
• Various institutional investors made significant moves in Medtronic, with Boston Partners boosting its holdings by 122.8%, acquiring over 3.8 million shares in the first quarter.
• Medtronic recently declared a quarterly dividend of $0.71, leading to an annual yield of 3.0%, with the ex-dividend date set for September 26th.

LVW Advisors LLC grew its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 13.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,889 shares of the medical technology company's stock after purchasing an additional 3,290 shares during the quarter. LVW Advisors LLC's holdings in Medtronic were worth $2,431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MDT. Boston Partners increased its stake in shares of Medtronic by 122.8% in the 1st 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 in the last quarter. Ameriprise Financial Inc. increased its position 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 worth $1,391,141,000 after buying an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position 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 worth $903,915,000 after buying an additional 3,017,849 shares in the last quarter. Nuveen LLC purchased a new stake in Medtronic in the 1st quarter worth approximately $260,649,000. Finally, Mackenzie Financial Corp increased its holdings in Medtronic by 220.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company's stock worth $216,753,000 after acquiring an additional 1,660,357 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. William Blair raised shares of Medtronic to a "hold" rating in a report on Friday, July 11th. Citigroup increased their price objective on shares of Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Mizuho increased their price target on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Truist Financial increased their price target on Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research note on Thursday, August 21st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $102.27.

Medtronic Trading Up 0.0%

Shares of Medtronic stock opened at $94.34 on Friday. The firm has a market cap 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 price of $92.57 and a 200-day moving average price of $88.40. 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.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's payout ratio is currently 78.24%.

Insider Transactions at Medtronic

In related news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company's stock, valued at $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.