Baird Financial Group Inc. Has $97.53 Million Position in Medtronic PLC $MDT

Key Points

• Baird Financial Group Inc. increased its holdings in Medtronic PLC by 11.0%, acquiring an additional 107,768 shares, bringing its total ownership to approximately 1,085,398 shares valued at $97.53 million.
• Medtronic reported a quarterly earnings per share (EPS) of $1.26 for the quarter, exceeding analysts' expectations of $1.23, with revenue increasing by 7.7% year-over-year to $8.58 billion.
• The company announced a quarterly dividend of $0.71 per share, offering a dividend yield of 3.1%, with the ex-dividend date set for September 26th.

Baird Financial Group Inc. raised its stake in Medtronic PLC (NYSE:MDT - Free Report) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,085,398 shares of the medical technology company's stock after buying an additional 107,768 shares during the quarter. Baird Financial Group Inc. owned about 0.08% of Medtronic worth $97,534,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MDT. Dunhill Financial LLC lifted its position in shares of Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after purchasing an additional 124 shares in the last quarter. Cidel Asset Management Inc. lifted its position in shares of Medtronic by 1.3% in the first 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 in the last quarter. Petros Family Wealth LLC lifted its position in shares of Medtronic by 4.3% in the first 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 in the last quarter. Motco lifted its position in shares of Medtronic by 27.0% in the first quarter. Motco now owns 635 shares of the medical technology company's stock worth $57,000 after purchasing an additional 135 shares in the last quarter. Finally, Baker Avenue Asset Management LP lifted its position in shares of Medtronic by 3.1% in the first quarter. Baker Avenue Asset Management LP now owns 4,558 shares of the medical technology company's stock worth $410,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Insider Buying and Selling

In other news, Director William R. Jellison bought 2,500 shares of the firm's stock in a transaction on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Price Performance

MDT stock traded down $1.13 during mid-day trading on Wednesday, hitting $92.20. The stock had a trading volume of 5,352,190 shares, compared to its average volume of 7,647,715. The company has a current ratio of 2.01, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25. The firm has a market capitalization of $118.26 billion, a P/E ratio of 25.40, a P/E/G ratio of 2.36 and a beta of 0.77. The firm has a fifty day simple moving average of $90.59 and a 200 day simple moving average of $88.06.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results 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 net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the firm earned $1.23 EPS. The business's quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MDT. Argus boosted their price objective on shares of Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. William Blair upgraded shares of Medtronic to a "hold" rating in a research note on Friday, July 11th. Truist Financial increased their price target on shares of Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research note on Thursday, August 21st. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Finally, Citigroup increased their price target on shares of Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and a consensus target price of $102.14.

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.