Medtronic PLC $MDT Stock Position Raised by Clarius Group LLC

Key Points

• Clarius Group LLC increased its stake in Medtronic PLC by 65.7% during the second quarter, owning a total of 6,842 shares worth $596,000.
• Medtronic reported $1.26 earnings per share for the last quarter, exceeding expectations and marking a 7.7% revenue increase year-over-year with total revenue of $8.58 billion.
• The company will pay a quarterly dividend of $0.71 on October 17th, representing an annualized dividend of $2.84 and a yield of 2.9%.

Clarius Group LLC lifted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 65.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,842 shares of the medical technology company's stock after acquiring an additional 2,714 shares during the quarter. Clarius Group LLC's holdings in Medtronic were worth $596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Red Spruce Capital LLC grew its holdings in shares of Medtronic by 0.5% during the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock valued at $2,067,000 after buying an additional 118 shares in the last quarter. Certior Financial Group LLC grew its holdings in shares of Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock valued at $310,000 after buying an additional 122 shares in the last quarter. Dunhill Financial LLC grew its holdings in shares of Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after buying an additional 124 shares in the last quarter. Cidel Asset Management Inc. grew its holdings in shares of Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after buying an additional 126 shares in the last quarter. Finally, Petros Family Wealth LLC grew its holdings in shares of Medtronic by 4.3% during the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after buying an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

NYSE MDT opened at $97.63 on Monday. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $97.94. The stock's 50-day moving average is $92.94 and its two-hundred day moving average is $88.46. 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 $125.23 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 2.57 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results 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 company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the company earned $1.23 earnings per share. The business's revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic's payout ratio is presently 78.24%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research analyst reports. Leerink Partners initiated coverage on Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 price target on the stock. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Robert W. Baird boosted their target price on Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Morgan Stanley restated an "overweight" rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Finally, Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and a consensus price target of $100.94.

Insider Transactions at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The stock was acquired 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 of the company's stock, valued at $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.26% of the company's stock.

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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