Optas LLC Boosts Position in Medtronic PLC $MDT

Optas LLC boosted its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 101.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,708 shares of the medical technology company's stock after buying an additional 3,879 shares during the quarter. Optas LLC's holdings in Medtronic were worth $672,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MDT. 1248 Management LLC acquired a new stake in shares of Medtronic during the 1st quarter worth approximately $26,000. Columbia River Financial Group LLC acquired a new stake in Medtronic in the 1st quarter valued at $28,000. Twin Tree Management LP acquired a new stake in Medtronic in the 1st quarter valued at $29,000. Activest Wealth Management grew its stake in Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock valued at $30,000 after acquiring an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new stake in Medtronic in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MDT shares. Robert W. Baird lifted their price target on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Medtronic in a research note on Wednesday. Argus lifted their target price on shares of Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Citigroup lifted their target price on shares of Medtronic from $101.00 to $112.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Daiwa Capital Markets lifted their target price on shares of Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Medtronic has an average rating of "Moderate Buy" and a consensus price target of $101.63.

Medtronic Stock Down 0.5%

NYSE MDT opened at $97.88 on Thursday. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The business's fifty day simple moving average is $93.31 and its 200-day simple moving average is $88.65. The firm has a market cap of $125.55 billion, a PE ratio of 26.96, a P/E/G ratio of 2.59 and a beta of 0.78.

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 (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 net margin of 13.63% and a return on equity of 14.61%. Medtronic's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, September 26th. Medtronic's payout ratio is 78.24%.

Insider Activity

In other news, Director William R. Jellison bought 2,500 shares of the company's stock in a transaction on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value 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 approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

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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