Medtronic PLC $MDT Shares Bought by Randolph Co Inc

Key Points

• Randolph Co Inc increased its stake in Medtronic PLC shares by 1.0%, now owning 293,950 shares valued at approximately $25.6 million, making it the 19th largest position in their portfolio.
• Several institutional investors, like A. D. Beadell Investment Counsel Inc. and Old North State Wealth Management LLC, have also raised their holdings in Medtronic during the second quarter.
• Medtronic announced a quarterly dividend of $0.71 per share to be paid on October 17, indicating a 3.0% yield with a payout ratio of 78.24%.

Randolph Co Inc raised its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,950 shares of the medical technology company's stock after purchasing an additional 2,989 shares during the period. Medtronic accounts for 2.6% of Randolph Co Inc's holdings, making the stock its 19th biggest position. Randolph Co Inc's holdings in Medtronic were worth $25,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. A. D. Beadell Investment Counsel Inc. lifted its holdings in Medtronic by 0.9% during the second quarter. A. D. Beadell Investment Counsel Inc. now owns 29,245 shares of the medical technology company's stock valued at $2,549,000 after purchasing an additional 250 shares in the last quarter. Old North State Wealth Management LLC lifted its holdings in Medtronic by 4.7% during the second quarter. Old North State Wealth Management LLC now owns 41,214 shares of the medical technology company's stock valued at $3,597,000 after purchasing an additional 1,850 shares in the last quarter. Colton Groome Financial Advisors LLC lifted its holdings in Medtronic by 15.1% during the second quarter. Colton Groome Financial Advisors LLC now owns 15,646 shares of the medical technology company's stock valued at $1,364,000 after purchasing an additional 2,049 shares in the last quarter. Register Financial Advisors LLC lifted its holdings in Medtronic by 15.7% during the second quarter. Register Financial Advisors LLC now owns 4,873 shares of the medical technology company's stock valued at $425,000 after purchasing an additional 662 shares in the last quarter. Finally, Dakota Wealth Management lifted its holdings in Medtronic by 4.9% during the second quarter. Dakota Wealth Management now owns 74,819 shares of the medical technology company's stock valued at $6,522,000 after purchasing an additional 3,514 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MDT. BTIG Research reaffirmed a "neutral" rating on shares of Medtronic in a report on Friday, July 11th. Leerink Partners started coverage on shares of Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target on the stock. Daiwa Capital Markets raised their price target on shares of Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Robert W. Baird raised their price target on shares of Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, Truist Financial raised their price target on shares of Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $102.27.

Medtronic Price Performance

Shares of MDT stock opened at $94.26 on Friday. 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 firm's 50-day moving average is $92.48 and its two-hundred day moving average is $88.39. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The company has a market capitalization of $120.91 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 2.52 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 company had revenue of $8.58 billion for 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 quarterly 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. Analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company 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 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 payout ratio is 78.24%.

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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