Medtronic PLC $MDT Shares Purchased by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in Medtronic PLC by 18.0% in Q2, now holding 26,105 shares worth $2.275 million.
• Analysts have a consensus rating of "Moderate Buy" for Medtronic, with a target price of $102.14, while the stock has a current market price of $94.05.
• Medtronic recently announced a quarterly dividend of $0.71 per share, equating to an annualized yield of 3.0%, scheduled for payment on October 17th.

Thurston Springer Miller Herd & Titak Inc. lifted its position in Medtronic PLC (NYSE:MDT - Free Report) by 18.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,105 shares of the medical technology company's stock after purchasing an additional 3,977 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Medtronic were worth $2,275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fiduciary Financial Group LLC raised its stake in Medtronic by 6.1% during the 2nd quarter. Fiduciary Financial Group LLC now owns 6,311 shares of the medical technology company's stock valued at $560,000 after acquiring an additional 361 shares during the last quarter. Crumly & Associates Inc. raised its stake in Medtronic by 3.2% during the 2nd quarter. Crumly & Associates Inc. now owns 7,063 shares of the medical technology company's stock valued at $616,000 after acquiring an additional 218 shares during the last quarter. Harbor Investment Advisory LLC raised its stake in Medtronic by 2.8% during the 2nd quarter. Harbor Investment Advisory LLC now owns 11,485 shares of the medical technology company's stock valued at $1,001,000 after acquiring an additional 312 shares during the last quarter. Kera Capital Partners Inc. purchased a new stake in Medtronic during the 2nd quarter valued at approximately $298,000. Finally, Rowlandmiller & PARTNERS.ADV raised its stake in Medtronic by 8.1% during the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 17,121 shares of the medical technology company's stock valued at $1,492,000 after acquiring an additional 1,285 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MDT has been the subject of several analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $107.00 price objective (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Mizuho increased their target price on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Argus increased their target price on Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Finally, Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.14.

Medtronic Stock Performance

NYSE MDT opened at $94.05 on Friday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The company has a market capitalization of $120.64 billion, a P/E ratio of 25.91, a PEG ratio of 2.48 and a beta of 0.77. The business has a 50 day moving average price of $91.50 and a 200 day moving average price of $88.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating 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 firm had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the business posted $1.23 EPS. Medtronic's quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. 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 dividend payout ratio is 78.24%.

Insiders Place Their Bets

In related news, Director William R. Jellison bought 2,500 shares of the stock in a transaction 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 acquisition, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction 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 sale, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently 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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