ST Germain D J Co. Inc. Buys 3,036 Shares of Medtronic PLC $MDT

Key Points

• ST Germain D J Co. Inc. increased its stake in Medtronic PLC by 3.8%, acquiring an additional 3,036 shares, bringing their total holdings to 83,064 shares worth approximately $7.24 million.
• Medtronic reported a quarterly earnings per share (EPS) of $1.26, exceeding analyst expectations of $1.23, with a revenue of $8.58 billion for the quarter, marking a year-over-year increase of 7.7%.
• The company announced a quarterly dividend of $0.71 per share, set to be paid on October 17th, representing an annualized dividend of $2.84 and a yield of 3.0%.

ST Germain D J Co. Inc. boosted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 3.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,064 shares of the medical technology company's stock after acquiring an additional 3,036 shares during the quarter. ST Germain D J Co. Inc.'s holdings in Medtronic were worth $7,241,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Legacy Advisory Services LLC acquired a new position in Medtronic during the 1st quarter valued at about $541,000. RNC Capital Management LLC raised its position in shares of Medtronic by 8.8% in the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company's stock valued at $37,474,000 after acquiring an additional 33,729 shares during the period. Commerce Bank raised its position in shares of Medtronic by 1.7% in the 1st quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock valued at $13,118,000 after acquiring an additional 2,429 shares during the period. Brighton Jones LLC raised its position in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares during the period. Finally, Cullen Investment Group LTD. raised its position in shares of Medtronic by 7.2% in the 2nd quarter. Cullen Investment Group LTD. now owns 85,921 shares of the medical technology company's stock valued at $7,490,000 after acquiring an additional 5,802 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of MDT opened at $94.26 on Friday. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The firm has a fifty day simple moving average of $92.48 and a 200 day simple moving average of $88.39. The stock has a market capitalization of $120.91 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 2.52 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 (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 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 business had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a $0.71 dividend. 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 (DPR) is currently 78.24%.

Insiders Place Their Bets

In other news, Director William R. Jellison bought 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was 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 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 insiders.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of analyst reports. William Blair upgraded shares of Medtronic to a "hold" rating in a research report on Friday, July 11th. Morgan Stanley reiterated an "overweight" rating and issued a $107.00 price target (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Sanford C. Bernstein raised their target price on shares of Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Finally, Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $102.27.

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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