Medtronic PLC $MDT Shares Acquired by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. increased its stake in Medtronic PLC by 49.7%, holding 8,663 shares worth approximately $778,000 after acquiring an additional 2,876 shares in the 1st quarter.
• Analysts have positive outlooks on Medtronic, with a consensus rating of "Moderate Buy" and an average price target of $102.14, indicating expected growth in share value.
• Medtronic announced a quarterly dividend of $0.71 per share, reflecting a 3.0% yield, with the ex-dividend date set for September 26th.

Hodges Capital Management Inc. boosted its stake in Medtronic PLC (NYSE:MDT - Free Report) by 49.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,663 shares of the medical technology company's stock after purchasing an additional 2,876 shares during the period. Hodges Capital Management Inc.'s holdings in Medtronic were worth $778,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Modern Wealth Management LLC increased its holdings in Medtronic by 25.5% in the 1st quarter. Modern Wealth Management LLC now owns 17,478 shares of the medical technology company's stock valued at $1,571,000 after purchasing an additional 3,550 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Medtronic by 32.2% in the 1st quarter. Jones Financial Companies Lllp now owns 690,119 shares of the medical technology company's stock valued at $60,777,000 after buying an additional 168,092 shares during the last quarter. Strs Ohio purchased a new position in Medtronic in the 1st quarter valued at about $84,067,000. Ellsworth Advisors LLC purchased a new position in Medtronic in the 1st quarter valued at about $5,387,000. Finally, Advisors Capital Management LLC boosted its position in Medtronic by 11.7% in the 1st quarter. Advisors Capital Management LLC now owns 507,695 shares of the medical technology company's stock valued at $45,622,000 after buying an additional 53,092 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MDT. Evercore ISI upped their price objective on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. BTIG Research reissued a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. Wells Fargo & Company upped their price objective 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. Finally, Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $102.14.

Insider Buying and Selling

In other news, Director William R. Jellison acquired 2,500 shares of the firm's stock in a transaction that occurred on 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 purchase, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly 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 disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $94.05 on Friday. The firm's 50 day moving average is $91.50 and its two-hundred day moving average is $88.28. 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 $120.64 billion, a P/E ratio of 25.91, a PEG ratio of 2.48 and a beta of 0.77. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly 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 company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the business earned $1.23 earnings per share. Medtronic's 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. Analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

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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