Medtronic PLC $MDT Shares Purchased by First Pacific Financial

Key Points

• First Pacific Financial increased its holdings in Medtronic PLC by 293.4% in Q2, now owning 37,947 shares valued at $3.3 million.
• Institutional investors own 82.06% of Medtronic's stock, with various funds significantly increasing their positions recently.
• Medtronic reported a quarterly EPS of $1.26, exceeding estimates, and announced a $0.71 dividend scheduled for October 17th, with a yield of 3.0%.

First Pacific Financial increased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 293.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,947 shares of the medical technology company's stock after purchasing an additional 28,302 shares during the quarter. First Pacific Financial's holdings in Medtronic were worth $3,308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its position in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Fiduciary Alliance LLC grew its position in Medtronic by 2.9% in the 1st quarter. Fiduciary Alliance LLC now owns 6,053 shares of the medical technology company's stock valued at $544,000 after acquiring an additional 169 shares in the last quarter. Merit Financial Group LLC grew its position in Medtronic by 78.2% in the 1st quarter. Merit Financial Group LLC now owns 41,474 shares of the medical technology company's stock valued at $3,727,000 after acquiring an additional 18,204 shares in the last quarter. HBW Advisory Services LLC grew its position in Medtronic by 4.6% in the 1st quarter. HBW Advisory Services LLC now owns 35,865 shares of the medical technology company's stock valued at $3,223,000 after acquiring an additional 1,581 shares in the last quarter. Finally, Fulton Bank N.A. grew its position in Medtronic by 34.2% in the 1st quarter. Fulton Bank N.A. now owns 10,800 shares of the medical technology company's stock valued at $970,000 after acquiring an additional 2,755 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Robert W. Baird lifted their price objective on Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Evercore ISI lifted their price objective on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Truist Financial lifted 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. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $102.27.

Medtronic Price Performance

Shares of NYSE MDT opened at $95.23 on Wednesday. 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 twelve month low of $79.29 and a twelve month high of $96.25. The stock has a 50 day moving average of $92.73 and a two-hundred day moving average of $88.40. The stock has a market cap of $122.15 billion, a P/E ratio of 26.23, a P/E/G ratio of 2.47 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating 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 company had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the previous 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. On average, research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic's payout ratio is presently 78.24%.

Insider Buying and Selling

In related news, Director William R. Jellison bought 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The shares were acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares in the company, 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. Insiders own 0.26% of the company's stock.

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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