Talaria Asset Management Pty Ltd Has $40.17 Million Position in Medtronic PLC $MDT

Key Points

• Talaria Asset Management Pty Ltd reduced its holdings in Medtronic PLC by 21.2% in the first quarter, making the company its 6th largest position with shares valued at approximately $40.17 million.
• Medtronic's quarterly earnings exceeded expectations with $1.26 earnings per share, surpassing the consensus estimate of $1.23 and reported revenues of $8.58 billion.
• The company announced a quarterly dividend of $0.71, which equates to an annualized dividend yield of 3.1%, with a payout ratio of 78.24%.

Talaria Asset Management Pty Ltd lowered its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 21.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 447,000 shares of the medical technology company's stock after selling 120,600 shares during the quarter. Medtronic accounts for about 13.4% of Talaria Asset Management Pty Ltd's investment portfolio, making the stock its 6th biggest holding. Talaria Asset Management Pty Ltd's holdings in Medtronic were worth $40,167,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MDT. Boston Partners raised its stake in shares of Medtronic by 122.8% in the first 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 during the last quarter. Ameriprise Financial Inc. raised its stake in shares of 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 purchasing an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of 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 purchasing an additional 3,017,849 shares during the last quarter. Nuveen LLC purchased a new position in shares of Medtronic in the first quarter worth $260,649,000. Finally, Burgundy Asset Management Ltd. purchased a new stake in Medtronic during the fourth quarter valued at $174,329,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

MDT has been the subject of a number of research reports. Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Evercore ISI upped their price objective on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. Finally, Argus upped their price objective on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $102.14.

Medtronic Stock Performance

NYSE:MDT traded down $0.08 during mid-day trading on Thursday, hitting $91.97. 5,626,300 shares of the company traded hands, compared to its average volume of 7,651,614. The stock's fifty day moving average price is $90.18 and its 200-day moving average price is $88.07. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The company has a quick ratio of 1.42, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The firm has a market cap of $117.97 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 2.34 and a beta of 0.80.

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 (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 during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. Medtronic's revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts anticipate 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 will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's dividend payout ratio is 78.24%.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The stock was purchased at an average price 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 in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.