Focus Partners Advisor Solutions LLC Purchases 4,549 Shares of Medtronic PLC $MDT

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in Medtronic PLC by 37.6%, now holding 16,652 shares valued at approximately $1.5 million.
• Medtronic's stock experienced a 0.5% increase, with current price targeting an average of $102.14 according to analysts.
• The company plans to pay a $0.71 quarterly dividend on October 17th, marking a 3.0% dividend yield.

Focus Partners Advisor Solutions LLC boosted its stake in Medtronic PLC (NYSE:MDT - Free Report) by 37.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 16,652 shares of the medical technology company's stock after buying an additional 4,549 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Medtronic were worth $1,496,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Commerce Bank grew its position in shares of Medtronic by 1.7% during the 1st quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock worth $13,118,000 after purchasing an additional 2,429 shares in the last quarter. Brighton Jones LLC grew its position in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Insight Inv LLC grew its position in shares of Medtronic by 84.2% during the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock worth $2,467,000 after purchasing an additional 12,550 shares in the last quarter. Korea Investment CORP grew its position in shares of Medtronic by 24.1% during the 1st quarter. Korea Investment CORP now owns 1,141,565 shares of the medical technology company's stock worth $102,581,000 after purchasing an additional 221,568 shares in the last quarter. Finally, D Orazio & Associates Inc. acquired a new position in shares of Medtronic during the 1st quarter worth approximately $357,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MDT shares. Citigroup increased their target price on shares of Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Royal Bank Of Canada decreased their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Mizuho increased their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Finally, Sanford C. Bernstein increased their price target on shares of Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. One equities 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.14.

Insider Activity at Medtronic

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

Medtronic Price Performance

Shares of NYSE MDT traded up $0.08 during trading hours on Friday, hitting $92.93. 4,856,702 shares of the stock were exchanged, compared to its average volume of 7,029,722. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The company has a market cap of $119.20 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. The company's fifty day simple moving average is $90.97 and its two-hundred day simple moving average is $88.13. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued 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. The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic's dividend payout ratio is presently 78.24%.

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.