Medtronic PLC $MDT Shares Purchased by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC increased its stake in Medtronic PLC by 9.7% to 66,986 shares, valued at approximately $5.84 million as of the most recent reporting period.
• Medtronic declared a quarterly dividend of $0.71 per share, with a yield of 3.0%, set to be paid on October 17th to shareholders of record on September 26th.
• Analysts have generally positive outlooks on Medtronic, with a consensus rating of "Moderate Buy" and an average price target of $102.27.

Farther Finance Advisors LLC grew its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 9.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 66,986 shares of the medical technology company's stock after buying an additional 5,934 shares during the period. Farther Finance Advisors LLC's holdings in Medtronic were worth $5,839,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MDT. Vanguard Group Inc. increased its stake in shares of Medtronic by 0.7% in the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock valued at $11,233,780,000 after purchasing an additional 810,854 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Medtronic by 7.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock worth $2,001,903,000 after acquiring an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Medtronic by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock valued at $1,858,332,000 after purchasing an additional 756,192 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock valued at $1,708,220,000 after buying an additional 566,155 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Medtronic by 9.9% during the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock worth $1,525,876,000 after purchasing an additional 1,535,308 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the company'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 sale, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the firm's stock in a transaction dated 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 acquisition, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company's stock.

Medtronic Stock Down 0.7%

Shares of MDT stock opened at $94.91 on Friday. 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 stock's 50-day simple moving average is $92.05 and its 200-day simple moving average is $88.33. The firm has a market capitalization of $121.74 billion, a PE ratio of 26.15, a P/E/G ratio of 2.50 and a beta of 0.77. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25.

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, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The business'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. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given 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 yield of 3.0%. Medtronic's payout ratio is 78.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial raised their price objective on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research note on Thursday, August 21st. Evercore ISI increased their price objective on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Citigroup raised their price target on Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. William Blair raised shares of Medtronic to a "hold" rating in a research report on Friday, July 11th. Finally, UBS Group raised their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $102.27.

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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