Mattson Financial Services LLC Grows Position in Medtronic PLC $MDT

Key Points

• Mattson Financial Services LLC increased its stake in Medtronic PLC by 11.2% during Q1, owning 46,865 shares valued at $4.21 million, making Medtronic its 19th largest position.
• Medtronic reported $1.26 EPS for the most recent quarter, exceeding estimates, with revenues of $8.58 billion, an increase of 7.7% year-over-year.
• The company declared a quarterly dividend of $0.71 per share, indicating a 3.1% dividend yield, with the ex-dividend date set for September 26th.

Mattson Financial Services LLC boosted its stake in Medtronic PLC (NYSE:MDT - Free Report) by 11.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,865 shares of the medical technology company's stock after purchasing an additional 4,706 shares during the quarter. Medtronic comprises 1.3% of Mattson Financial Services LLC's portfolio, making the stock its 19th largest position. Mattson Financial Services LLC's holdings in Medtronic were worth $4,211,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MDT. Certior Financial Group LLC lifted its position in Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock valued at $310,000 after buying an additional 122 shares in the last quarter. Dunhill Financial LLC lifted its position in Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after buying an additional 124 shares in the last quarter. Cidel Asset Management Inc. lifted its position in Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after buying an additional 126 shares in the last quarter. Petros Family Wealth LLC lifted its position in Medtronic by 4.3% during the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after buying an additional 127 shares in the last quarter. Finally, Motco lifted its position in Medtronic by 27.0% during the first quarter. Motco now owns 635 shares of the medical technology company's stock valued at $57,000 after buying an additional 135 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Down 1.8%

Shares of NYSE:MDT opened at $92.38 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $91.27 and a 200 day simple moving average of $88.23. The firm has a market cap of $118.49 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 2.39 and a beta of 0.77. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business's revenue was up 7.7% compared to the same quarter last year. During the same quarter 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. On average, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared 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 dividend yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic's payout ratio is 78.24%.

Insiders Place Their Bets

In related news, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Wells Fargo & Company lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Mizuho lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial boosted their target price on shares of Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research report on Thursday, August 21st. Finally, Morgan Stanley reissued 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 equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $102.14.

About Medtronic

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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