Medtronic PLC $MDT Shares Purchased by Bard Financial Services Inc.

Key Points

• Bard Financial Services Inc. increased its stake in Medtronic PLC by 8.8%, owning 37,260 shares valued at approximately $3.25 million as of the latest SEC filing.
• Medtronic reported a 7.7% increase in quarterly revenue year-over-year, with an earnings per share (EPS) of $1.26, surpassing analysts' expectations.
• The company announced a quarterly dividend of $0.71, with a dividend yield of 3.0%, indicating an aggressive share returns strategy for its investors.

Bard Financial Services Inc. raised its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 8.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,260 shares of the medical technology company's stock after buying an additional 3,025 shares during the quarter. Bard Financial Services Inc.'s holdings in Medtronic were worth $3,248,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Burkett Financial Services LLC boosted its stake in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares during the last quarter. 1248 Management LLC purchased a new position in Medtronic in the 1st quarter valued at about $26,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $27,000. Columbia River Financial Group LLC purchased a new stake in shares of Medtronic during the first quarter worth about $28,000. Finally, Twin Tree Management LP acquired a new position in shares of Medtronic in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. Evercore ISI lifted 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. Sanford C. Bernstein upped their price objective on shares of Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Mizuho raised their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Wells Fargo & Company increased their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Finally, UBS Group upped their price objective on Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and an average price target of $102.14.

Medtronic Trading Down 0.2%

Shares of MDT opened at $94.05 on Monday. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. 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 company has a market capitalization of $120.64 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.48 and a beta of 0.77. The stock has a 50-day moving average price of $91.50 and a 200 day moving average price of $88.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion for 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%. The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a $0.71 dividend. 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 78.24%.

Insider Transactions at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were purchased 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 directly owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm'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 in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate 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.

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