NewEdge Advisors LLC Buys 18,964 Shares of Medtronic PLC $MDT

Key Points

• NewEdge Advisors LLC increased its stake in Medtronic PLC by 9.5%, now holding 217,620 shares valued at $19.56 million.
• Multiple institutional investors have shown interest in Medtronic, with 82.06% of the stock currently owned by institutional investors and hedge funds.
• The company recently announced a quarterly dividend of $0.71 per share, yielding approximately 3.1%, with a payment date set for October 17th.

NewEdge Advisors LLC lifted its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 217,620 shares of the medical technology company's stock after buying an additional 18,964 shares during the period. NewEdge Advisors LLC's holdings in Medtronic were worth $19,555,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC raised its stake in Medtronic by 185.0% during the 1st 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. 1248 Management LLC bought a new stake in Medtronic during the first quarter valued at about $26,000. Wood Tarver Financial Group LLC bought a new stake in Medtronic during the fourth quarter valued at about $27,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic in the first quarter valued at about $28,000. Finally, Twin Tree Management LP acquired a new position in Medtronic in the first quarter worth about $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Medtronic

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

Medtronic Trading Up 1.1%

NYSE MDT traded up $1.05 during mid-day trading on Tuesday, reaching $94.04. 7,032,350 shares of the stock were exchanged, compared to its average volume of 6,852,776. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The stock has a 50 day simple moving average of $91.09 and a 200-day simple moving average of $88.16. The stock has a market cap of $120.62 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.36 and a beta of 0.77. 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 posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. The business had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors 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 annualized dividend and a yield of 3.0%. Medtronic's dividend payout ratio is presently 78.24%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MDT. Robert W. Baird raised their price objective on shares of Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. BTIG Research reissued a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Evercore ISI boosted their price objective on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Truist Financial boosted their price target on shares of Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research report on Thursday, August 21st. Finally, Leerink Partners assumed coverage on shares of Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Medtronic presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.14.

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.