Medtronic PLC $MDT Shares Bought by Vest Financial LLC

Key Points

• Vest Financial LLC increased its stake in Medtronic PLC by 5.9%, owning approximately 661,485 shares valued at $57.66 million as of the latest SEC filing.
• Medtronic announced a quarterly dividend of $0.71 per share, to be paid on October 17th, which results in an annualized yield of 3.0%.
• Quantitative financials showed that Medtronic's recent quarterly earnings exceeded expectations, reporting $1.26 EPS against a consensus estimate of $1.23, with revenue rising 7.7% year-over-year.

Vest Financial LLC grew its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 5.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 661,485 shares of the medical technology company's stock after acquiring an additional 36,688 shares during the period. Vest Financial LLC owned about 0.05% of Medtronic worth $57,662,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Red Spruce Capital LLC grew its holdings in shares of Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock valued at $2,067,000 after acquiring an additional 118 shares in the last quarter. Certior Financial Group LLC grew its holdings in shares of Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock valued at $310,000 after acquiring an additional 122 shares in the last quarter. Dunhill Financial LLC grew its holdings in shares of Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after acquiring an additional 124 shares in the last quarter. Cidel Asset Management Inc. boosted its holdings in Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after purchasing an additional 126 shares in the last quarter. Finally, Petros Family Wealth LLC boosted its holdings in Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after purchasing an additional 127 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the 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 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 position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Down 1.0%

MDT 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 52-week low of $79.29 and a 52-week high of $99.37. The company has a 50-day moving average of $93.56 and a two-hundred day moving average of $88.74. The stock has a market capitalization of $122.52 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78.

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, beating 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 business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. The firm'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. As a group, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a $0.71 dividend. 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 presently 78.24%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDT. Leerink Partners began coverage on shares of Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective for the company. Stifel Nicolaus upped their price objective on shares of Medtronic from $90.00 to $105.00 and gave the stock a "hold" rating in a report on Thursday. Mizuho upped their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Medtronic in a report on Wednesday, October 8th. Finally, William Blair upgraded 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 given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $102.41.

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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