Teza Capital Management LLC Takes Position in Medtronic PLC $MDT

Key Points

• Teza Capital Management LLC has acquired a new stake in Medtronic PLC, purchasing 8,038 shares valued at approximately $722,000 in the 1st quarter.
• Medtronic recently reported quarterly earnings of $1.26 per share, exceeding expectations, with a revenue of $8.58 billion, marking a 7.7% year-over-year increase.
• The company announced a quarterly dividend of $0.71 per share, translating to an annual yield of 3.1% and an expected payout ratio of 78.24%.

Teza Capital Management LLC purchased a new stake in shares of Medtronic PLC (NYSE:MDT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,038 shares of the medical technology company's stock, valued at approximately $722,000.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after purchasing an additional 37,265 shares during the last quarter. CoreCap Advisors LLC grew its stake in Medtronic by 16.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,244 shares of the medical technology company's stock valued at $179,000 after purchasing an additional 322 shares during the last quarter. Forefront Analytics LLC grew its stake in Medtronic by 32.5% in the fourth quarter. Forefront Analytics LLC now owns 3,077 shares of the medical technology company's stock valued at $246,000 after purchasing an additional 754 shares during the last quarter. Focus Partners Wealth grew its stake in Medtronic by 100.2% in the fourth quarter. Focus Partners Wealth now owns 199,003 shares of the medical technology company's stock valued at $16,345,000 after purchasing an additional 99,587 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new position in Medtronic in the fourth quarter valued at about $1,322,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of MDT stock opened at $92.93 on Friday. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The firm has a market capitalization of $119.20 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 2.36 and a beta of 0.77. 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's 50-day simple moving average is $90.97 and its 200-day simple moving average is $88.14.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly 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 return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The company'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. As a group, equities analysts forecast that Medtronic PLC will post 5.46 earnings per share 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 issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's payout ratio is 78.24%.

Insider Transactions at Medtronic

In other news, Director William R. Jellison bought 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, with a total value 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated 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 $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MDT shares. Evercore ISI lifted their target price on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Argus lifted their target price on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. BTIG Research reiterated a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Mizuho lifted their target price on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Citigroup boosted their price target on Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of "Moderate Buy" and an average target price of $102.14.

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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