Petrus Trust Company LTA Invests $292,000 in Medtronic PLC $MDT

Key Points

• Petrus Trust Company LTA has invested $292,000 in Medtronic PLC by purchasing 3,250 shares, reflecting growing institutional interest in the medical technology company.
• Director William R. Jellison increased his ownership by 100% through the acquisition of 2,500 shares at an average price of $92.37, demonstrating confidence in the company's future.
• Medtronic recently reported strong quarterly earnings with revenue of $8.58 billion, exceeding expectations, and set a FY 2026 guidance of 5.600-5.660 EPS.

Petrus Trust Company LTA purchased a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,250 shares of the medical technology company's stock, valued at approximately $292,000.

Other large investors have also modified their holdings of the company. Commerce Bank lifted its holdings in Medtronic by 1.7% in the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock worth $13,118,000 after acquiring an additional 2,429 shares during the last quarter. Brighton Jones LLC lifted its holdings in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Insight Inv LLC lifted its holdings in Medtronic by 84.2% in the first quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock worth $2,467,000 after acquiring an additional 12,550 shares during the last quarter. Korea Investment CORP lifted its holdings in Medtronic by 24.1% in the first quarter. Korea Investment CORP now owns 1,141,565 shares of the medical technology company's stock worth $102,581,000 after acquiring an additional 221,568 shares during the last quarter. Finally, D Orazio & Associates Inc. bought a new position in Medtronic in the first quarter worth about $357,000. Institutional investors own 82.06% of the company's stock.

Insider Buying and Selling

In related news, Director William R. Jellison acquired 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were acquired 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 $461,850. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Medtronic Stock Performance

MDT opened at $92.91 on Tuesday. The business's 50 day moving average is $91.09 and its 200-day moving average is $88.16. The stock has a market cap of $119.17 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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 paid a dividend of $0.71 per share. 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 (DPR) is currently 78.24%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MDT shares. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Argus raised their target price on shares of Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Royal Bank Of Canada cut their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Finally, Truist Financial lifted their price target on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Medtronic has a consensus rating of "Moderate Buy" and an average target price of $102.14.

Medtronic 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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