Seamount Financial Group Inc. Makes New Investment in Medtronic PLC $MDT

Key Points

• Seamount Financial Group Inc. has acquired a new stake in Medtronic PLC, purchasing 4,157 shares valued at approximately $362,000 during the 2nd quarter.
• Medtronic's latest quarterly earnings showed a report of $1.26 EPS, exceeding analysts' expectations of $1.23, with revenues reaching $8.58 billion.
• The company recently announced a quarterly dividend of $0.71 per share, translating to an annualized yield of 2.9%, set to be paid on October 17th.

Seamount Financial Group Inc. purchased a new stake in Medtronic PLC (NYSE:MDT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,157 shares of the medical technology company's stock, valued at approximately $362,000.

A number of other institutional investors also recently modified their holdings of the business. 1248 Management LLC bought a new stake in shares of Medtronic during the 1st quarter valued at $26,000. Columbia River Financial Group LLC purchased a new position in Medtronic during the 1st quarter valued at about $28,000. Twin Tree Management LP bought a new stake in shares of Medtronic during the first quarter valued at about $29,000. Activest Wealth Management lifted its holdings in shares of Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after buying an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC bought a new position in shares of Medtronic in the first quarter valued at approximately $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction dated 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. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Price Performance

MDT opened at $98.46 on Tuesday. The stock has a 50-day moving average price of $93.07 and a 200-day moving average price of $88.52. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $98.66. 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 stock has a market capitalization of $126.29 billion, a P/E ratio of 27.12, a PEG ratio of 2.57 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.Medtronic's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Wall Street Analyst Weigh In

MDT has been the topic of several recent analyst reports. Mizuho increased their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Daiwa Capital Markets increased their price objective on Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Citigroup boosted their target price on Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. UBS Group upped their target price on Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company lifted their price target on Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and a consensus price target of $100.94.

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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