Medtronic PLC $MDT Shares Purchased by Swedbank AB

Key Points

• Swedbank AB increased its stake in Medtronic PLC by 2.5% during the first quarter, now holding approximately 594,806 shares worth $53.4 million.
• Medtronic recently reported quarterly earnings of $1.26 per share, exceeding analysts' expectations, with a revenue of $8.58 billion, marking a 7.7% year-over-year increase.
• The company announced a quarterly dividend of $0.71, resulting in an annualized yield of 3.0%, set to be paid on October 17th to shareholders of record by September 26th.

Swedbank AB lifted its stake in Medtronic PLC (NYSE:MDT - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 594,806 shares of the medical technology company's stock after purchasing an additional 14,385 shares during the period. Swedbank AB's holdings in Medtronic were worth $53,449,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 1248 Management LLC acquired a new stake in shares of Medtronic in the first quarter valued at about $26,000. Burkett Financial Services LLC lifted its stake in shares of Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after purchasing an additional 185 shares during the period. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic in the first quarter valued at about $28,000. Twin Tree Management LP acquired a new stake in shares of Medtronic in the first quarter valued at about $29,000. Finally, Activest Wealth Management lifted its stake in shares of Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock valued at $30,000 after purchasing an additional 322 shares during the period. 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 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 transaction of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the firm's stock in a transaction on 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 purchase, the director owned 5,000 shares of the company's stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by insiders.

Medtronic Stock Performance

NYSE:MDT opened at $94.05 on Friday. The firm has a 50 day simple moving average of $91.50 and a 200-day simple moving average of $88.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The firm has a market cap of $120.64 billion, a PE ratio of 25.91, a P/E/G ratio of 2.48 and a beta of 0.77. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted 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 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 previous year, the business posted $1.23 earnings per share. The company's revenue 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, equities analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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 issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's payout ratio is presently 78.24%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MDT. William Blair upgraded shares of Medtronic to a "hold" rating in a research note on Friday, July 11th. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. BTIG Research restated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Royal Bank Of Canada cut their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Finally, Citigroup lifted their target price on shares of Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Medtronic has an average rating of "Moderate Buy" and an average target price of $102.14.

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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