Westbourne Investments Inc. Buys Shares of 21,315 Medtronic PLC $MDT

Key Points

• Westbourne Investments Inc. acquired a new stake in Medtronic PLC, purchasing 21,315 shares valued at approximately $1,915,000, which constitutes 1.2% of its portfolio.
• In recent insider activity, Director William R. Jellison purchased 2,500 shares of Medtronic, while EVP Harry Skip Kiil sold 8,605 shares, indicating varying sentiments among corporate executives.
• Medtronic announced a quarterly dividend of $0.71, representing a 3.0% dividend yield, and is projected to earn $5.46 EPS for the current fiscal year.

Westbourne Investments Inc. bought a new stake in shares of Medtronic PLC (NYSE:MDT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 21,315 shares of the medical technology company's stock, valued at approximately $1,915,000. Medtronic makes up 1.2% of Westbourne Investments Inc.'s portfolio, making the stock its 27th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Commerce Bank raised its stake 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 worth $13,118,000 after buying an additional 2,429 shares in the last quarter. Brighton Jones LLC grew its holdings 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 worth $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Insight Inv LLC grew its holdings in shares of Medtronic by 84.2% in the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock worth $2,467,000 after acquiring an additional 12,550 shares during the last quarter. Korea Investment CORP grew its holdings in shares of Medtronic by 24.1% in the 1st quarter. Korea Investment CORP now owns 1,141,565 shares of the medical technology company's stock worth $102,581,000 after acquiring an additional 221,568 shares during the last quarter. Finally, D Orazio & Associates Inc. acquired a new position in shares of Medtronic in the 1st quarter worth $357,000. Institutional investors own 82.06% of the company's stock.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the firm's 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 transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on 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 owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $93.28 on Wednesday. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The business has a 50-day moving average of $91.19 and a two-hundred day moving average of $88.20. The stock has a market capitalization of $119.64 billion, a P/E ratio of 25.71, a P/E/G ratio of 2.36 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio is currently 78.24%.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent research reports. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Royal Bank Of Canada lowered their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Robert W. Baird lifted their price target on Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Argus lifted their price target on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Finally, UBS Group lifted their price target on Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of "Moderate Buy" and an average target price of $102.14.

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.

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.