Medtronic PLC $MDT Shares Bought by Johnson Investment Counsel Inc.

Key Points

• Johnson Investment Counsel Inc. increased its stake in Medtronic PLC by 3.7%, acquiring an additional 21,246 shares, bringing its total holdings to $51.97 million.
• Medtronic's recent earnings report revealed a per share earnings of $1.26, beating estimates, and revenue of $8.58 billion, which is up 7.7% year-over-year.
• The company declared a quarterly dividend of $0.71 per share, with an annualized yield of 3.0% and a payout ratio of 78.24%.

Johnson Investment Counsel Inc. raised its position in Medtronic PLC (NYSE:MDT - Free Report) by 3.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 596,196 shares of the medical technology company's stock after purchasing an additional 21,246 shares during the period. Johnson Investment Counsel Inc.'s holdings in Medtronic were worth $51,970,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. 1248 Management LLC purchased a new stake in shares of Medtronic in the first quarter valued at $26,000. Columbia River Financial Group LLC purchased a new stake in shares of Medtronic in the first quarter valued at $28,000. Twin Tree Management LP purchased a new stake in shares of Medtronic in the first quarter valued at $29,000. Activest Wealth Management lifted its position in shares of Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock valued at $30,000 after acquiring an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in shares of Medtronic in the first quarter valued at $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the 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 purchase, the director directly owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were 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 approximately $3,261,621.70. This trade 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 Price Performance

MDT stock opened at $95.52 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The firm has a market cap 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. The stock has a 50-day simple moving average of $93.56 and a 200-day simple moving average of $88.74.

Medtronic (NYSE:MDT - Get Free Report) last posted 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 return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The company'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, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is 78.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $111.00 target price on shares of Medtronic in a research report on Friday. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Argus increased their target price on Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Finally, Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $102.41.

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.

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.