Medtronic PLC $MDT Stock Position Lifted by Modern Wealth Management LLC

Key Points

• Modern Wealth Management LLC has increased its holdings in Medtronic PLC by 25.5%, acquiring an additional 3,550 shares for a total of 17,478 shares valued at approximately $1,571,000.
• Several institutional investors have also made significant adjustments to their stakes in Medtronic, with Brighton Jones LLC raising its holdings by an extraordinary 1,368.0%.
• Medtronic recently reported a robust quarterly earnings performance, with a net revenue of $8.58 billion and a year-over-year EPS increase, leading to a new dividend announcement scheduled for October 17th.

Modern Wealth Management LLC grew its stake in Medtronic PLC (NYSE:MDT - Free Report) by 25.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,478 shares of the medical technology company's stock after purchasing an additional 3,550 shares during the period. Modern Wealth Management LLC's holdings in Medtronic were worth $1,571,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp increased its holdings in shares of Medtronic by 32.2% in the first quarter. Jones Financial Companies Lllp now owns 690,119 shares of the medical technology company's stock valued at $60,777,000 after purchasing an additional 168,092 shares during the period. Strs Ohio acquired a new position in Medtronic during the first quarter worth $84,067,000. Ellsworth Advisors LLC acquired a new position in Medtronic during the first quarter worth $5,387,000. Advisors Capital Management LLC grew its holdings in Medtronic by 11.7% during the first quarter. Advisors Capital Management LLC now owns 507,695 shares of the medical technology company's stock worth $45,622,000 after acquiring an additional 53,092 shares during the period. Finally, Mattson Financial Services LLC grew its holdings in Medtronic by 11.2% during the first quarter. Mattson Financial Services LLC now owns 46,865 shares of the medical technology company's stock worth $4,211,000 after acquiring an additional 4,706 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Down 0.6%

NYSE MDT traded down $0.56 during mid-day trading on Monday, reaching $93.48. 5,715,769 shares of the company's stock traded hands, compared to its average volume of 6,922,758. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The company has a fifty day simple moving average of $91.61 and a 200-day simple moving average of $88.26. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a market cap of $119.90 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 2.48 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 firm had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the firm earned $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. As a group, equities research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid 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 (DPR) is 78.24%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was 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 owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were 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 in the company, valued at $461,850. The trade was 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 company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MDT shares. Evercore ISI upped their price objective on Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Mizuho upped their price objective on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research report 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 report on Tuesday, August 26th. Finally, Wolfe Research upgraded 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 assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.