Sciencast Management LP Takes $3.55 Million Position in Medtronic PLC $MDT

Key Points

• Sciencast Management LP has acquired a new position in Medtronic PLC, purchasing 39,462 shares valued at approximately $3.55 million in the first quarter.
• Medtronic reported a quarterly earnings per share (EPS) of $1.26, exceeding expectations and marking a 7.7% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.71 per share, reflecting a 3.1% dividend yield with a payout ratio of 78.24%.

Sciencast Management LP acquired a new stake in Medtronic PLC (NYSE:MDT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 39,462 shares of the medical technology company's stock, valued at approximately $3,546,000.

A number of other hedge funds also recently made changes to their positions in MDT. 1248 Management LLC bought a new position in shares of Medtronic during the first quarter worth approximately $26,000. Burkett Financial Services LLC increased its stake in shares of Medtronic by 185.0% during the first 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 period. Columbia River Financial Group LLC bought a new position in shares of Medtronic during the first quarter worth approximately $28,000. Twin Tree Management LP bought a new position in shares of Medtronic during the first quarter worth approximately $29,000. Finally, Activest Wealth Management increased its stake in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after purchasing an additional 322 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Up 0.1%

Shares of MDT opened at $92.93 on Monday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25. The business's fifty day moving average is $90.97 and its 200-day moving average is $88.14. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The firm has a market cap of $119.20 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 2.36 and a beta of 0.77.

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 (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $8.37 billion. During the same quarter last year, the company posted $1.23 EPS. The company'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. Equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was acquired at an average price 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 disclosure for this purchase can be found here. Company insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MDT shares. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Robert W. Baird increased their target price on Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Evercore ISI increased their target price on Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, Truist Financial raised their price objective on Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $102.14.

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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