Lyell Wealth Management LP Makes New $893,000 Investment in Medtronic PLC $MDT

Key Points

• Lyell Wealth Management LP has acquired a new investment of approximately $893,000 in Medtronic PLC, buying 10,240 shares in the second quarter.
• Medtronic reported earnings of $1.26 EPS for the latest quarter, surpassing consensus estimates, with revenues totaling $8.58 billion, representing a year-over-year increase of 7.7%.
• The company recently announced a quarterly dividend of $0.71, resulting in an annualized dividend of $2.84 with a yield of 3.0%.

Lyell Wealth Management LP bought a new position in Medtronic PLC (NYSE:MDT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,240 shares of the medical technology company's stock, valued at approximately $893,000.

A number of other institutional investors and hedge funds have also modified their holdings of MDT. Vanguard Group Inc. boosted its position in Medtronic by 0.7% in the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock worth $11,233,780,000 after purchasing an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Medtronic by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock worth $2,001,903,000 after purchasing an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Medtronic by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock worth $1,858,332,000 after purchasing an additional 756,192 shares during the last quarter. Deutsche Bank AG boosted its position in Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock worth $1,708,220,000 after purchasing an additional 566,155 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Medtronic by 9.9% in the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock worth $1,525,876,000 after purchasing an additional 1,535,308 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of Medtronic stock opened at $95.97 on Tuesday. The stock's 50-day simple moving average is $94.13 and its 200-day simple moving average is $89.08. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The company has a market capitalization of $123.10 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 2.52 and a beta of 0.78. 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 (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $8.37 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The business'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. As a group, analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analysts Forecast Growth

MDT has been the topic of several research reports. William Blair raised Medtronic to a "hold" rating in a research report on Friday, July 11th. The Goldman Sachs Group lowered their target price on Medtronic from $82.00 to $81.00 and set a "sell" rating on the stock in a research report on Wednesday, October 1st. Mizuho lifted their target price on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial lifted their target price on Medtronic from $96.00 to $103.00 and gave the company a "hold" rating in a research report on Wednesday, October 15th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $107.00 target price (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $102.82.

Insider Activity

In other news, Director William R. Jellison bought 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business's 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 sale, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This 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 owned by insiders.

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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