Northside Capital Management LLC Takes $1.88 Million Position in Medtronic PLC $MDT

Key Points

• Northside Capital Management LLC acquired a new position in Medtronic PLC, investing approximately $1.88 million for 21,544 shares, indicating growing institutional interest in the company.
• Medtronic has recently declared a quarterly dividend of $0.71 per share, resulting in a 3.0% dividend yield, which shows the company’s commitment to returning value to its shareholders.
• Analysts have increased their price targets for Medtronic, with several brokerages now projecting a target as high as $115.00, reflecting positive sentiment about the company's performance and future potential.

Northside Capital Management LLC acquired a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 21,544 shares of the medical technology company's stock, valued at approximately $1,878,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Accurate Wealth Management LLC raised its holdings in Medtronic by 10.8% during the 2nd quarter. Accurate Wealth Management LLC now owns 5,693 shares of the medical technology company's stock worth $509,000 after purchasing an additional 555 shares during the last quarter. CCM Investment Advisers LLC bought a new stake in Medtronic during the 2nd quarter worth about $8,071,000. Revisor Wealth Management LLC raised its holdings in Medtronic by 164.9% during the 2nd quarter. Revisor Wealth Management LLC now owns 13,432 shares of the medical technology company's stock worth $1,201,000 after purchasing an additional 8,361 shares during the last quarter. Bank of Stockton raised its holdings in Medtronic by 2.3% during the 2nd quarter. Bank of Stockton now owns 6,650 shares of the medical technology company's stock worth $580,000 after purchasing an additional 150 shares during the last quarter. Finally, CGN Advisors LLC raised its holdings in Medtronic by 2.4% during the 2nd quarter. CGN Advisors LLC now owns 29,417 shares of the medical technology company's stock worth $2,564,000 after purchasing an additional 701 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the firm'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 transaction, the executive vice president directly owned 35,615 shares of the company's stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This 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 company insiders.

Medtronic Stock Performance

Shares of MDT stock opened at $94.95 on Wednesday. The company has a market capitalization of $121.79 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 2.49 and a beta of 0.77. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25. The company's 50 day moving average price is $92.27 and its two-hundred day moving average price is $88.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. The company 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 business earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDT. Daiwa Capital Markets upped their price target on Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Argus upped their price target on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. Leerink Partners began coverage on Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target for the company. UBS Group upped their price target on Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $102.27.

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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