Swedbank AB Purchases 7,984 Shares of Medtronic PLC $MDT

Key Points

• Swedbank AB increased its stake in Medtronic PLC by 1.3%, acquiring a total of 602,790 shares valued at approximately $52.5 million.
• Analysts remain optimistic about Medtronic, with a consensus rating of "Moderate Buy" and an average target price of $102.27.
• Medtronic recently announced a quarterly dividend of $0.71 per share, representing an annualized yield of 3.0%, with the payment set for October 17th.

Swedbank AB raised its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 602,790 shares of the medical technology company's stock after buying an additional 7,984 shares during the period. Swedbank AB's holdings in Medtronic were worth $52,545,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MDT. Boston Partners increased its holdings in Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock valued at $619,460,000 after buying an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Medtronic by 28.8% during 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 buying an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Medtronic by 42.9% during 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 buying an additional 3,017,849 shares during the last quarter. Nuveen LLC purchased a new stake in Medtronic during the first quarter valued at approximately $260,649,000. Finally, Burgundy Asset Management Ltd. purchased a new stake in Medtronic during the fourth quarter valued at approximately $174,329,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the subject of a number of research reports. Truist Financial upped their target price on shares of Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a report on Thursday, August 21st. William Blair raised shares of Medtronic to a "hold" rating in a research note on Friday, July 11th. Citigroup increased 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. BTIG Research reissued a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Finally, Evercore ISI increased their price objective on shares of Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $102.27.

Medtronic Price Performance

Shares of NYSE:MDT traded down $0.39 during midday trading on Monday, reaching $94.69. 7,581,573 shares of the company were exchanged, compared to its average volume of 6,450,186. 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 business's fifty day moving average is $92.15 and its two-hundred day moving average is $88.29. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The stock 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 earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. Medtronic's revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic's dividend payout ratio (DPR) is 78.24%.

Insider Buying and Selling at Medtronic

In other news, Director William R. Jellison bought 2,500 shares of the stock in a transaction dated Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director owned 5,000 shares of the company's stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The transaction 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 firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares of the company's stock, valued at $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 company insiders.

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.