Synergy Asset Management LLC Grows Position in Medtronic PLC $MDT

Key Points

• Synergy Asset Management LLC increased its stake in Medtronic PLC by 31.1% in Q2, owning 128,899 shares valued at approximately $11.24 million.
• Insider transactions revealed that EVP Harry Skip Kiil sold 8,605 shares, while Director William R. Jellison purchased 2,500 shares, indicating varying confidence levels within the company.
• Medtronic recently reported a quarterly earnings per share of $1.26, exceeding estimates and marking a 7.7% year-over-year revenue increase to $8.58 billion.

Synergy Asset Management LLC grew its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 31.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,899 shares of the medical technology company's stock after buying an additional 30,585 shares during the period. Medtronic accounts for approximately 1.3% of Synergy Asset Management LLC's portfolio, making the stock its 21st largest holding. Synergy Asset Management LLC's holdings in Medtronic were worth $11,236,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Burkett Financial Services LLC increased its position 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 valued at $26,000 after buying an additional 185 shares during the period. 1248 Management LLC bought a new stake in shares of Medtronic during the first quarter valued at about $26,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic during the first 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. Finally, Activest Wealth Management increased its position 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 valued at $30,000 after buying an additional 322 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by company insiders.

Medtronic Stock Up 0.8%

MDT stock opened at $95.57 on Friday. 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 company's 50 day moving average is $92.85 and its 200 day moving average is $88.46. The stock has a market cap of $122.59 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.50 and a beta of 0.78. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating 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 business had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same period last year, the business earned $1.23 earnings per share. The business's quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared 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. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group upped their price target on Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Truist Financial upped their price target on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research report on Thursday, August 21st. BTIG Research restated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Wells Fargo & Company upped their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Finally, Mizuho upped their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. One research 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 stock. Based on data from MarketBeat.com, the stock 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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