Medtronic PLC $MDT Shares Bought by Avior Wealth Management LLC

Key Points

• Avior Wealth Management LLC significantly increased its stake in Medtronic PLC by 784.2%, acquiring a total of 15,377 shares worth around $1.34 million.
• Several hedge funds also boosted their positions in Medtronic, indicating strong interest from institutional investors, with 82.06% of the stock owned by such entities.
• Medtronic's recent earnings report showed an EPS of $1.26, beating expectations, alongside a quarterly dividend announcement of $0.71 per share to be paid on October 17th.

Avior Wealth Management LLC lifted its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 784.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,377 shares of the medical technology company's stock after acquiring an additional 13,638 shares during the quarter. Avior Wealth Management LLC's holdings in Medtronic were worth $1,340,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MDT. Burkett Financial Services LLC grew its stake in 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 acquiring an additional 185 shares during the last quarter. 1248 Management LLC purchased a new stake in shares of Medtronic in the first quarter valued at about $26,000. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic in the first quarter valued at approximately $28,000. Twin Tree Management LP purchased a new position in shares of Medtronic during the 1st quarter worth approximately $29,000. Finally, Activest Wealth Management raised its position in shares of Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after purchasing an additional 322 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Daiwa Capital Markets increased their target price on Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a report on Friday, September 12th. Sanford C. Bernstein increased their price objective on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Wells Fargo & Company upped their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Finally, Evercore ISI lifted their price target on shares of Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and an average target price of $102.27.

Medtronic Trading Up 0.0%

NYSE MDT opened at $94.34 on Monday. The company has a market cap of $121.01 billion, a P/E ratio of 25.99, a P/E/G ratio of 2.48 and a beta of 0.77. Medtronic PLC has a 12 month low of $79.29 and a 12 month 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 50-day moving average of $92.57 and a 200-day moving average of $88.35.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the firm 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. As a group, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders 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 dividend yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio is presently 78.24%.

Insider Buying and Selling at Medtronic

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

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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