Medtronic PLC $MDT Shares Bought by Sivik Global Healthcare LLC

Key Points

• Sivik Global Healthcare LLC increased its ownership in Medtronic PLC by 6.7%, now holding 80,000 shares worth approximately $6.97 million, making it the 13th largest position in their portfolio.
• Medtronic reported a quarterly earnings per share (EPS) of $1.26, surpassing analysts' expectations of $1.23, and indicated revenue growth of 7.7% year-over-year.
• The company announced a quarterly dividend of $0.71 per share, reflecting an annualized dividend yield of 3.0% and a payout ratio of 78.24%.

Sivik Global Healthcare LLC lifted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,000 shares of the medical technology company's stock after acquiring an additional 5,000 shares during the period. Medtronic accounts for approximately 1.9% of Sivik Global Healthcare LLC's portfolio, making the stock its 13th biggest position. Sivik Global Healthcare LLC's holdings in Medtronic were worth $6,974,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. 1248 Management LLC purchased a new position in shares of Medtronic during the 1st quarter worth $26,000. Columbia River Financial Group LLC purchased a new position in shares of Medtronic during the 1st quarter worth $28,000. Twin Tree Management LP purchased a new position in shares of Medtronic during the 1st quarter worth $29,000. Activest Wealth Management raised its holdings 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 acquiring an additional 322 shares during the period. Finally, Hughes Financial Services LLC purchased a new position in shares of Medtronic during the 1st quarter worth $32,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $95.52 on Friday. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The company has a market cap of $122.52 billion, a PE ratio of 26.31, a P/E/G ratio of 2.51 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The business 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 announced its quarterly earnings data 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 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 the consensus estimate of $8.37 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders 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 dividend yield of 3.0%. Medtronic's payout ratio is currently 78.24%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MDT. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Leerink Partners assumed coverage on shares of Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective on the stock. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. Finally, Morgan Stanley restated an "overweight" rating and issued a $107.00 price objective (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.41.

Insider Transactions at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the business'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 completion of the transaction, the executive vice president directly owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction dated Monday, August 25th. The shares were bought at an average cost 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. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.26% of the company's stock.

Medtronic 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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