Medtronic PLC $MDT Shares Acquired by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC increased its holdings in Medtronic PLC by 20.6%, now owning 33,569 shares valued at approximately $2.93 million as of the end of Q2.
• Medtronic's quarterly earnings surpassed analysts' expectations, reporting $1.26 EPS against an estimate of $1.23, with revenue of $8.58 billion.
• The company announced a quarterly dividend of $0.71 per share, which translates to an annualized yield of 3.0%.

GC Wealth Management RIA LLC boosted its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 20.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,569 shares of the medical technology company's stock after purchasing an additional 5,734 shares during the period. GC Wealth Management RIA LLC's holdings in Medtronic were worth $2,926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Burkett Financial Services LLC lifted its position in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares during the last quarter. 1248 Management LLC purchased a new stake in shares of Medtronic during the first quarter valued at $26,000. Columbia River Financial Group LLC purchased a new stake in shares of Medtronic during the first quarter valued at $28,000. Twin Tree Management LP purchased a new stake in Medtronic during the first quarter valued at about $29,000. Finally, Activest Wealth Management lifted its stake in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock valued at $30,000 after buying an additional 322 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Insiders Place Their Bets

In related news, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

Medtronic Trading Up 0.0%

Medtronic stock opened at $94.34 on Monday. 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 business's 50-day simple moving average is $92.57 and its 200-day simple moving average is $88.35. The firm has a market capitalization of $121.01 billion, a PE ratio of 25.99, a PEG ratio of 2.48 and a beta of 0.77. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic's payout ratio is 78.24%.

Analysts Set New Price Targets

MDT has been the subject of a number of analyst reports. Mizuho upped their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. UBS Group upped their price target on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Daiwa Capital Markets increased their target price on Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a report on Friday, September 12th. Sanford C. Bernstein increased their target price on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Finally, Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $102.27.

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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