Medtronic PLC $MDT Shares Bought by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. increased its stake in Medtronic PLC by 2.0%, now owning 155,062 shares valued at approximately $13.5 million.
• Medtronic reported a quarterly earnings per share of $1.26, surpassing expectations and reflecting a 7.7% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.71 per share, set to be paid on October 17th, yielding an annualized return of 3.0%.

ASR Vermogensbeheer N.V. grew its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 155,062 shares of the medical technology company's stock after purchasing an additional 2,989 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Medtronic were worth $13,517,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. William Blair raised Medtronic to a "hold" rating in a research report on Friday, July 11th. Sanford C. Bernstein raised their price target on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Mizuho raised their price target on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company raised their price target on Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $102.27.

Medtronic Stock Down 0.4%

MDT stock opened at $94.85 on Thursday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The company has a market cap of $121.66 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The business's 50-day simple moving average is $92.78 and its 200 day simple moving average is $88.45. 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 (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share 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 business 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 earned $1.23 earnings per share. The firm's revenue for the quarter 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, research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company 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 dividend payout ratio (DPR) is 78.24%.

Insider Transactions at Medtronic

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the business's stock in a transaction on Monday, August 25th. The stock was purchased 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. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm'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 of the company's stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.