Revisor Wealth Management LLC Acquires 8,361 Shares of Medtronic PLC $MDT

Key Points

• Revisor Wealth Management LLC increased its holdings in Medtronic PLC by 164.9%, acquiring an additional 8,361 shares, bringing their total to 13,432 shares worth approximately $1,201,000.
• Analysts have generally upgraded their outlook on Medtronic, with many raising price targets; the consensus rating now stands at "Moderate Buy" with a target price of $102.27.
• Medtronic recently announced a quarterly dividend of $0.71 per share, reflecting an annualized dividend of $2.84 and a yield of 3.0%.

Revisor Wealth Management LLC boosted its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 164.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,432 shares of the medical technology company's stock after acquiring an additional 8,361 shares during the quarter. Revisor Wealth Management LLC's holdings in Medtronic were worth $1,201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Boston Partners increased its stake in Medtronic by 122.8% in the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock valued at $619,460,000 after acquiring an additional 3,809,450 shares during the period. Ameriprise Financial Inc. increased its stake in Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock valued at $1,391,141,000 after acquiring an additional 3,461,221 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock valued at $903,915,000 after acquiring an additional 3,017,849 shares during the period. Nuveen LLC bought a new stake in Medtronic in the first quarter valued at about $260,649,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Medtronic during the fourth quarter worth about $139,869,000. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Daiwa Capital Markets upped their price objective 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. Truist Financial upped their price objective on shares of Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research note on Thursday, August 21st. Citigroup upped their price objective on shares of Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Finally, UBS Group upped their price objective on shares of Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.27.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction 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 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 trade 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 corporate insiders.

Medtronic Trading Down 0.4%

MDT opened at $94.69 on Tuesday. The firm's fifty day moving average is $92.15 and its two-hundred day moving average is $88.29. 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 PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The firm has a market cap of $121.45 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 2.50 and a beta of 0.77.

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, topping the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The firm's revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given 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 dividend 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.

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