Medtronic PLC $MDT Shares Purchased by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. increased its stake in Medtronic PLC by 1.9%, holding a total of 575,592 shares valued at approximately $50.2 million.
• Insider activity showed EVP Harry Skip Kiil sold 8,605 shares, reducing their position by 19.46%, while Director William R. Jellison increased theirs by purchasing 2,500 shares.
• Several analysts upgraded their ratings and price targets for Medtronic, with a consensus target price now set at $102.82 and a majority rating of "Moderate Buy."

Asset Management One Co. Ltd. grew its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 575,592 shares of the medical technology company's stock after acquiring an additional 10,458 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Medtronic were worth $50,174,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. 1248 Management LLC acquired a new position in shares of Medtronic during the first quarter valued at about $26,000. Columbia River Financial Group LLC acquired a new position in shares of Medtronic during the first quarter valued at about $28,000. Twin Tree Management LP acquired a new position in shares of Medtronic during the first quarter valued at about $29,000. Activest Wealth Management increased its holdings 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 valued at $30,000 after acquiring an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC acquired a new position in shares of Medtronic during the first quarter valued at about $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday. Evercore ISI upped their target price on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Medtronic in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Medtronic Trading Down 0.5%

Medtronic stock opened at $93.76 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. The stock's 50 day simple moving average is $94.32 and its two-hundred day simple moving average is $89.33. The firm has a market cap of $120.26 billion, a PE ratio of 25.83, a P/E/G ratio of 2.48 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data 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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The business'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 anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic's dividend payout ratio is currently 78.24%.

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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