Medtronic PLC $MDT Shares Acquired by Pzena Investment Management LLC

Key Points

• Pzena Investment Management LLC has increased its stake in Medtronic PLC by 5.6%, now owning approximately 8.86 million shares valued at $771.9 million, making it the 15th largest position in their portfolio.
• Medtronic recently announced a quarterly dividend of $0.71 per share, reflecting an annualized dividend yield of 3.0%, with the payout set for October 17th.
• Analysts have a consensus rating of "Moderate Buy" on Medtronic, with price targets ranging from $102.41 to $115.00, highlighting strong expectations for the company's stock performance.

Pzena Investment Management LLC raised its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 5.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,855,291 shares of the medical technology company's stock after buying an additional 469,069 shares during the period. Medtronic makes up 2.5% of Pzena Investment Management LLC's portfolio, making the stock its 15th biggest position. Pzena Investment Management LLC owned about 0.69% of Medtronic worth $771,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Red Spruce Capital LLC increased its holdings in Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock worth $2,067,000 after buying an additional 118 shares during the last quarter. Certior Financial Group LLC increased its holdings in Medtronic by 3.7% in the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock worth $310,000 after buying an additional 122 shares during the last quarter. Dunhill Financial LLC increased its holdings in Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after buying an additional 124 shares during the last quarter. Cidel Asset Management Inc. increased its holdings in Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after buying an additional 126 shares during the last quarter. Finally, Petros Family Wealth LLC increased its holdings in Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after buying an additional 127 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on MDT shares. Leerink Partners started coverage on Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective on the stock. Daiwa Capital Markets increased their price target on Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a report on Friday, September 12th. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Argus increased their price target on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $111.00 price target on shares of Medtronic in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.41.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were 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 in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Jellison bought 2,500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were bought 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 owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.

Medtronic Trading Down 1.0%

Shares of MDT stock opened at $95.52 on Monday. The firm has a market capitalization of $122.52 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The firm's fifty day simple moving average is $93.56 and its 200 day simple moving average is $88.74. 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 released its 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. The firm had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts predict that Medtronic PLC will post 5.46 EPS 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 paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 26th. 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.

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