Medtronic PLC $MDT Shares Acquired by Wilmington Savings Fund Society FSB

Key Points

• Wilmington Savings Fund Society FSB increased its stake in Medtronic PLC by 36.3% in Q2, now holding 102,488 shares valued at approximately $8.93 million.
• Medtronic announced a quarterly dividend of $0.71 per share, reflecting a 3.0% dividend yield, to be paid on October 17th.
• Recent analyst ratings for Medtronic show a trend of increased price targets, with Citigroup raising their target from $101 to $112 and others also providing positive ratings.

Wilmington Savings Fund Society FSB grew its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 36.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,488 shares of the medical technology company's stock after purchasing an additional 27,292 shares during the period. Wilmington Savings Fund Society FSB's holdings in Medtronic were worth $8,934,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Red Spruce Capital LLC lifted its stake in Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock worth $2,067,000 after acquiring an additional 118 shares in the last quarter. Certior Financial Group LLC increased its holdings in Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock worth $310,000 after purchasing an additional 122 shares during the period. Dunhill Financial LLC increased its holdings in Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after purchasing an additional 124 shares during the period. Cidel Asset Management Inc. increased its holdings in Medtronic by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after purchasing an additional 126 shares during the period. Finally, Petros Family Wealth LLC increased its holdings in Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Activity at Medtronic

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

Analysts Set New Price Targets

MDT has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Stifel Nicolaus increased their price objective on Medtronic from $90.00 to $105.00 and gave the company a "hold" rating in a report on Thursday, October 9th. Citigroup increased their price objective on Medtronic from $101.00 to $112.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Finally, William Blair upgraded Medtronic to a "hold" rating in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and an average target price of $102.41.

Medtronic Stock Up 0.2%

Shares of NYSE MDT opened at $95.63 on Tuesday. The stock has a market cap of $122.66 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The business has a 50-day moving average price of $93.68 and a 200 day moving average price of $88.80.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the business posted $1.23 EPS. The company's revenue was up 7.7% on a year-over-year basis. 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. Shareholders 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 dividend payout ratio (DPR) is 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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