Patriot Financial Group Insurance Agency LLC Boosts Stock Holdings in Medtronic PLC $MDT

Key Points

• Patriot Financial Group Insurance Agency LLC increased its stake in Medtronic PLC by 17.8%, now owning 32,372 shares valued at approximately $2.82 million after purchasing an additional 4,886 shares in Q2.
• Medtronic reported $1.26 earnings per share for the latest quarter, exceeding estimates, with revenue increasing by 7.7% year-over-year, amounting to $8.58 billion.
• The company declared a quarterly dividend of $0.71 per share, with a scheduled payment date of October 17, reflecting a 3.0% yield.

Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 17.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 32,372 shares of the medical technology company's stock after purchasing an additional 4,886 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in Medtronic were worth $2,822,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. ASR Vermogensbeheer N.V. increased its position in Medtronic by 2.0% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 155,062 shares of the medical technology company's stock valued at $13,517,000 after purchasing an additional 2,989 shares during the period. DMKC Advisory Services LLC increased its position in Medtronic by 16.0% during the 2nd quarter. DMKC Advisory Services LLC now owns 24,022 shares of the medical technology company's stock valued at $2,151,000 after purchasing an additional 3,306 shares during the period. Gold Investment Management Ltd. grew its position in shares of Medtronic by 1.6% in the 2nd quarter. Gold Investment Management Ltd. now owns 32,882 shares of the medical technology company's stock worth $2,906,000 after buying an additional 531 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. grew its position in shares of Medtronic by 0.4% in the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 186,355 shares of the medical technology company's stock worth $16,245,000 after buying an additional 783 shares during the last quarter. Finally, Woodward Diversified Capital LLC grew its position in shares of Medtronic by 77.0% in the 2nd quarter. Woodward Diversified Capital LLC now owns 5,215 shares of the medical technology company's stock worth $455,000 after buying an additional 2,268 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Up 0.8%

NYSE:MDT opened at $95.57 on Friday. The company has a market cap of $122.59 billion, a PE ratio of 26.33, a P/E/G ratio of 2.50 and a beta of 0.78. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company's 50 day moving average is $92.85 and its two-hundred day moving average is $88.46.

Medtronic (NYSE:MDT - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders 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 yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's payout ratio is presently 78.24%.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the firm's stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. The trade was 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.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MDT. William Blair raised shares of Medtronic to a "hold" rating in a research report on Friday, July 11th. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Morgan Stanley reaffirmed an "overweight" rating and issued a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Daiwa Capital Markets lifted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Finally, UBS Group lifted their price objective on shares of Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.27.

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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