OMERS ADMINISTRATION Corp Has $4.25 Million Holdings in Medtronic PLC $MDT

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Medtronic PLC by 16.1%, now holding 47,301 shares valued at $4.25 million after selling off 9,083 shares in the first quarter.
• Despite OMERS cutting its position, several institutional investors like Vanguard Group and Massachusetts Financial Services increased their holdings in Medtronic, indicating ongoing confidence in the stock.
• Medtronic recently announced a quarterly dividend of $0.71 per share, which will be paid on October 17th, reflecting a dividend yield of 3.1%.

OMERS ADMINISTRATION Corp lowered its stake in Medtronic PLC (NYSE:MDT - Free Report) by 16.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 47,301 shares of the medical technology company's stock after selling 9,083 shares during the period. OMERS ADMINISTRATION Corp's holdings in Medtronic were worth $4,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Burkett Financial Services LLC increased its position in shares of Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after purchasing an additional 185 shares during the last quarter. Wood Tarver Financial Group LLC bought a new stake in shares of Medtronic during the 4th quarter valued at about $27,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic during the 1st quarter valued at about $28,000. Hughes Financial Services LLC bought a new stake in shares of Medtronic during the 1st quarter valued at about $32,000. Finally, Chapman Financial Group LLC bought a new stake in shares of Medtronic during the 4th quarter valued at about $33,000. Institutional investors own 82.06% of the company's stock.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was 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 trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of recent research reports. 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Truist Financial boosted their price objective on shares of Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research report on Thursday, August 21st. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Royal Bank Of Canada lowered their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. One 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $102.14.

Medtronic Price Performance

Shares of NYSE:MDT traded up $0.55 during trading on Tuesday, reaching $93.36. The company had a trading volume of 4,593,897 shares, compared to its average volume of 7,644,715. The firm's fifty day moving average is $90.45 and its 200 day moving average is $88.02. The firm has a market capitalization of $119.75 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. 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 analysts' consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm 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 dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic's dividend payout ratio is currently 78.24%.

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.