Medtronic PLC $MDT Shares Purchased by Toth Financial Advisory Corp

Key Points

• Toth Financial Advisory Corp increased its stake in Medtronic PLC by 5.6%, holding 66,393 shares valued at $5.787 million at the end of the second quarter.
• Medtronic reported $1.26 EPS for the latest quarter, exceeding estimates of $1.23, alongside a 7.7% year-over-year revenue growth of $8.58 billion.
• A new quarterly dividend of $0.71 per share is set to be paid on October 17th, 2023, indicating a 3.0% dividend yield for shareholders.

Toth Financial Advisory Corp increased its position in Medtronic PLC (NYSE:MDT - Free Report) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,393 shares of the medical technology company's stock after purchasing an additional 3,545 shares during the period. Toth Financial Advisory Corp's holdings in Medtronic were worth $5,787,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares during the period. State of Wyoming bought a new position in Medtronic during the 4th quarter valued at about $119,000. Vise Technologies Inc. lifted its stake in Medtronic by 34.5% during the 4th quarter. Vise Technologies Inc. now owns 16,244 shares of the medical technology company's stock valued at $1,298,000 after acquiring an additional 4,169 shares during the period. Fourth Dimension Wealth LLC bought a new position in Medtronic during the 4th quarter valued at about $56,000. Finally, WCG Wealth Advisors LLC lifted its stake in Medtronic by 24.6% during the 4th quarter. WCG Wealth Advisors LLC now owns 28,384 shares of the medical technology company's stock valued at $2,267,000 after acquiring an additional 5,606 shares during the period. Institutional investors own 82.06% of the company's stock.

Medtronic Trading Down 0.4%

MDT traded down $0.39 during trading on Monday, reaching $94.69. The company had a trading volume of 7,581,573 shares, compared to its average volume of 7,636,260. The stock has a market cap of $121.45 billion, a P/E ratio of 26.08, a PEG ratio of 2.50 and a beta of 0.77. The business has a 50 day simple moving average of $92.05 and a 200-day simple moving average of $88.29. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.Medtronic's revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal 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 given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is 78.24%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MDT. Morgan Stanley restated an "overweight" rating and set a $107.00 target price (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Daiwa Capital Markets increased their target price on shares of Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Finally, Argus increased their price objective on shares of Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $102.27.

Insider Buying and Selling at Medtronic

In other news, Director William R. Jellison acquired 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company's stock, valued at $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares of the company's stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

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.