Talbot Financial LLC Buys 43,279 Shares of Medtronic PLC $MDT

Key Points

• Talbot Financial LLC increased its stake in Medtronic PLC by 32.1%, acquiring an additional 43,279 shares, bringing its total holdings to 178,006 shares worth $15.5 million.
• Director William R. Jellison purchased 2,500 shares at $92.37 each, increasing his ownership by 100%, while EVP Harry Skip Kiil sold 8,605 shares, reducing his stake by 19.46%.
• Medtronic announced a quarterly dividend of $0.71 per share, with a dividend yield of 2.9% and an annualized payout of $2.84.

Talbot Financial LLC lifted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 32.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,006 shares of the medical technology company's stock after acquiring an additional 43,279 shares during the quarter. Medtronic makes up 1.5% of Talbot Financial LLC's holdings, making the stock its 26th biggest holding. Talbot Financial LLC's holdings in Medtronic were worth $15,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. 1248 Management LLC bought a new position in shares of Medtronic during the first quarter worth about $26,000. Columbia River Financial Group LLC acquired a new stake in Medtronic during the first quarter worth approximately $28,000. Twin Tree Management LP acquired a new stake in Medtronic during the first quarter worth approximately $29,000. Activest Wealth Management grew its stake in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after purchasing an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new stake in Medtronic during the first quarter worth approximately $32,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director William R. Jellison bought 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company's stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This 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 Trading Up 2.3%

Shares of Medtronic stock opened at $97.63 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $97.94. The stock has a 50 day moving average price of $92.94 and a two-hundred day moving average price of $88.48. The stock has a market capitalization of $125.23 billion, a PE ratio of 26.90, a price-to-earnings-growth 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 EPS for the quarter, beating 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 firm had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The company'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. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced 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 dividend payout ratio (DPR) is currently 78.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MDT shares. Robert W. Baird raised their target price on Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. William Blair raised Medtronic to a "hold" rating in a research note on Friday, July 11th. The Goldman Sachs Group decreased their target price on Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a research note on Wednesday. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Finally, Wells Fargo & Company raised their target price on Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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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