Sector Gamma AS Buys 19,000 Shares of Medtronic PLC $MDT

Key Points

• Sector Gamma AS increased its stake in Medtronic PLC by 9.3%, acquiring an additional 19,000 shares, which now make up approximately 6.4% of its total holdings.
• Medtronic reported $1.26 earnings per share for the last quarter, surpassing analysts' expectations, and set its FY 2026 guidance at 5.600-5.660 EPS.
• The company announced a quarterly dividend of $0.71 per share, representing a 3.0% yield and showcasing a payout ratio of 78.24%.

Sector Gamma AS increased its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 9.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,000 shares of the medical technology company's stock after buying an additional 19,000 shares during the period. Medtronic accounts for approximately 6.4% of Sector Gamma AS's holdings, making the stock its 2nd biggest holding. Sector Gamma AS's holdings in Medtronic were worth $19,526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDT. 1248 Management LLC acquired a new position in Medtronic during the 1st quarter valued at about $26,000. Columbia River Financial Group LLC acquired a new position in Medtronic during the 1st quarter valued at about $28,000. Twin Tree Management LP acquired a new position in Medtronic during the 1st quarter valued at about $29,000. Activest Wealth Management lifted its position in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock valued at $30,000 after purchasing an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in Medtronic during the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MDT. Royal Bank Of Canada restated an "outperform" rating and set a $111.00 target price on shares of Medtronic in a research report on Friday, October 10th. BTIG Research restated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Daiwa Capital Markets upped their target price on shares of Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Morgan Stanley restated an "overweight" rating and set a $107.00 target price (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Medtronic in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $102.82.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the stock in a transaction that occurred 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 purchase, the director owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly 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

NYSE MDT opened at $94.25 on Friday. The business has a 50 day simple moving average of $94.31 and a 200 day simple moving average of $89.25. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. 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 stock has a market cap of $120.89 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 2.53 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. During the same period in the prior year, the business earned $1.23 EPS. Medtronic'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. Analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic's dividend payout ratio is presently 78.24%.

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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