Medtronic PLC $MDT Shares Acquired by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC increased its holdings in Medtronic PLC by 23.3%, acquiring an additional 9,868 shares for a total of 52,162 shares valued at approximately $4.69 million.
• Medtronic reported a quarterly revenue of $8.58 billion and EPS of $1.26, exceeding analysts' expectations and marking a revenue increase of 7.7% year-over-year.
• The company announced a quarterly dividend of $0.71, which will be paid on October 17th, marking an annualized dividend yield of 3.1%.

Integrated Wealth Concepts LLC lifted its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 23.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,162 shares of the medical technology company's stock after buying an additional 9,868 shares during the period. Integrated Wealth Concepts LLC's holdings in Medtronic were worth $4,687,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Burkett Financial Services LLC grew its position in shares of Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after buying an additional 185 shares during the last quarter. 1248 Management LLC bought a new position in shares of Medtronic in the first quarter valued at approximately $26,000. Wood Tarver Financial Group LLC bought a new position in shares of Medtronic in the fourth quarter valued at approximately $27,000. Columbia River Financial Group LLC bought a new stake in Medtronic during the first quarter worth $28,000. Finally, Twin Tree Management LP bought a new stake in Medtronic during the first quarter worth $29,000. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MDT shares. BTIG Research reissued a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Truist Financial boosted their target price on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research note on Thursday, August 21st. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Argus upped their price target on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Finally, William Blair raised Medtronic to a "hold" rating in a research report on Friday, July 11th. One equities 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 company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $102.14.

Medtronic Stock Performance

Medtronic stock traded up $1.05 during mid-day trading on Tuesday, reaching $94.04. 7,032,350 shares of the company traded hands, compared to its average volume of 6,852,776. The firm's fifty day moving average is $91.19 and its two-hundred day moving average is $88.20. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The company has a market capitalization of $120.62 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results 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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The firm'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. On average, equities research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared 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. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's payout ratio is currently 78.24%.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the business'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 sale, the executive vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by 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.