Medtronic PLC $MDT Shares Bought by Haverford Trust Co

Key Points

• Haverford Trust Co increased its stake in Medtronic PLC by 3.7%, acquiring an additional 37,515 shares, and now holds 1,042,706 shares worth approximately $93.7 million.
• Medtronic reported a 7.7% year-over-year revenue growth and exceeded earnings expectations with $1.26 EPS for the quarter, compared to the anticipated $1.23 EPS.
• The company announced a quarterly dividend of $0.71, representing a 3.1% yield, with the ex-dividend date set for September 26th.

Haverford Trust Co raised its stake in Medtronic PLC (NYSE:MDT - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,042,706 shares of the medical technology company's stock after acquiring an additional 37,515 shares during the period. Haverford Trust Co owned 0.08% of Medtronic worth $93,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MDT. Boston Partners boosted its stake in Medtronic by 122.8% in the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock valued at $619,460,000 after acquiring an additional 3,809,450 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock valued at $1,391,141,000 after buying an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock valued at $903,915,000 after buying an additional 3,017,849 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Medtronic in the first quarter valued at about $260,649,000. Finally, Burgundy Asset Management Ltd. purchased a new stake in shares of Medtronic in the fourth quarter valued at about $174,329,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

NYSE:MDT opened at $92.6210 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The company has a market cap of $118.72 billion, a P/E ratio of 25.52, a P/E/G ratio of 2.31 and a beta of 0.80. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The firm's 50 day moving average is $89.73 and its two-hundred day moving average is $88.03.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly 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. The company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.56%. Medtronic's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MDT shares. UBS Group upped their target price on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday. Robert W. Baird increased their price target on shares of Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday. BTIG Research reissued a "neutral" rating on shares of Medtronic in a report on Friday, July 11th. Wall Street Zen cut shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Sanford C. Bernstein increased their price target on shares of Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.15.

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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