Oarsman Capital Inc. Acquires 2,933 Shares of Medtronic PLC $MDT

Key Points

• Oarsman Capital Inc. increased its holdings in Medtronic PLC by 9.6% in Q1, acquiring an additional 2,933 shares, bringing their total to 33,333 shares valued at approximately $2.995 million.
• Medtronic reported a quarterly earnings per share (EPS) of $1.26, exceeding estimates, and announced a dividend of $0.71 per share, representing an annualized yield of 3.1%.
• Analysts have rated Medtronic with a consensus of "Moderate Buy," with a price target averaging around $102.14, reflecting positive sentiment towards the company's growth prospects.

Oarsman Capital Inc. lifted its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,333 shares of the medical technology company's stock after purchasing an additional 2,933 shares during the period. Oarsman Capital Inc.'s holdings in Medtronic were worth $2,995,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MDT. Brighton Jones LLC increased its holdings in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Beacon Pointe Advisors LLC boosted its position in Medtronic by 21.4% during the fourth quarter. Beacon Pointe Advisors LLC now owns 20,356 shares of the medical technology company's stock worth $1,626,000 after purchasing an additional 3,589 shares during the period. Optiver Holding B.V. acquired a new position in Medtronic during the fourth quarter valued at approximately $31,000. Boyar Asset Management Inc. raised its position in shares of Medtronic by 7.3% in the fourth quarter. Boyar Asset Management Inc. now owns 5,591 shares of the medical technology company's stock valued at $447,000 after purchasing an additional 378 shares during the period. Finally, Becker Capital Management Inc. raised its position in shares of Medtronic by 55.0% in the fourth quarter. Becker Capital Management Inc. now owns 67,089 shares of the medical technology company's stock valued at $5,406,000 after purchasing an additional 23,812 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the firm's 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 completion of the purchase, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent analyst reports. Leerink Partners initiated coverage on shares of Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 price objective for the company. Evercore ISI raised their price target on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Sanford C. Bernstein increased their target price on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Finally, Robert W. Baird raised their target price on Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $102.14.

Medtronic Stock Down 0.2%

NYSE MDT opened at $91.98 on Thursday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The stock has a market cap of $118.00 billion, a PE ratio of 25.34, a PEG ratio of 2.34 and a beta of 0.80. The firm has a 50-day simple moving average of $90.06 and a 200 day simple moving average of $88.06. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85.

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 (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio is presently 78.24%.

Medtronic Company 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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