Insider Buying: Medtronic (NYSE:MDT) Director Purchases 2,500 Shares of Stock

Key Points

• Medtronic's Director William Jellison purchased 2,500 shares of the company at an average price of $92.73, totaling approximately $231,825.
• The company reported quarterly earnings of $1.26 per share, above the expectations of $1.23, with a revenue of $8.58 billion for the period.
• Medtronic declared a quarterly dividend of $0.71, set to be paid on October 17th, with an annualized dividend yield of 3.1%.

Medtronic PLC (NYSE:MDT - Get Free Report) Director William Jellison purchased 2,500 shares of Medtronic stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $92.73 per share, with a total value of $231,825.00. Following the transaction, the director directly owned 2,500 shares of the company's stock, valued at approximately $231,825. The trade was a ∞ 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.

Medtronic Stock Down 0.7%

Shares of NYSE:MDT traded down $0.69 on Monday, reaching $92.02. The company had a trading volume of 4,763,821 shares, compared to its average volume of 7,593,159. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The stock has a 50-day moving average price of $89.73 and a 200 day moving average price of $87.99. The stock has a market capitalization of $117.95 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.35 and a beta of 0.80. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

Medtronic (NYSE:MDT - Get Free Report) last announced 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. The company had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business 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 $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Commerce Bank lifted its holdings in Medtronic by 1.7% during 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 lifted its holdings in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after buying an additional 37,265 shares in the last quarter. Oxford Asset Management LLP lifted its holdings in Medtronic by 70.1% during the 4th quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after buying an additional 3,068 shares in the last quarter. Insight Inv LLC lifted its holdings in Medtronic by 84.2% during the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock worth $2,467,000 after buying an additional 12,550 shares in the last quarter. Finally, Korea Investment CORP lifted its holdings in Medtronic by 24.1% during the 1st quarter. Korea Investment CORP now owns 1,141,565 shares of the medical technology company's stock worth $102,581,000 after buying an additional 221,568 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on MDT. UBS Group lifted their target price on Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Citigroup upped their price objective on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday. Sanford C. Bernstein upped their price objective on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Robert W. Baird upped their price objective on Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Finally, Royal Bank Of Canada lowered their price objective on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $101.15.

About Medtronic

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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