Medtronic PLC $MDT Shares Bought by Vanguard Personalized Indexing Management LLC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Medtronic PLC by 6.8% in the second quarter, owning 120,034 shares worth approximately $10.46 million.
• Director William R. Jellison purchased 2,500 shares of Medtronic stock at an average price of $92.37 per share, marking a 100% increase in his position.
• Medtronic recently announced a quarterly dividend of $0.71 per share, with a dividend yield of 3.0% and a payout ratio of 78.24%.

Vanguard Personalized Indexing Management LLC raised its stake in Medtronic PLC (NYSE:MDT - Free Report) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,034 shares of the medical technology company's stock after acquiring an additional 7,643 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Medtronic were worth $10,464,000 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. 1248 Management LLC acquired a new stake in shares of Medtronic during the first quarter worth about $26,000. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic during the first quarter worth about $28,000. Twin Tree Management LP acquired a new stake in shares of Medtronic during the first quarter worth about $29,000. Activest Wealth Management boosted its stake in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after buying an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new stake in shares of Medtronic during the first quarter worth about $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director 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 this link. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Medtronic Trading Down 1.0%

Shares of Medtronic stock opened at $95.52 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The company has a market capitalization of $122.52 billion, a P/E ratio of 26.31, a P/E/G ratio of 2.51 and a beta of 0.78. The business has a 50 day moving average price of $93.56 and a 200 day moving average price of $88.74.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. Medtronic's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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 paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic's payout ratio is currently 78.24%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Evercore ISI increased their target price on shares of Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Leerink Partners started coverage on shares of Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 price target for the company. Morgan Stanley reissued an "overweight" rating and set a $107.00 price target (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. 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, August 20th. Finally, William Blair raised shares of Medtronic to a "hold" rating in a report on Friday, July 11th. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.

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