Medtronic (NYSE:MDT) Director Acquires $230,925.00 in Stock

Key Points

• Medtronic Director William Jellison purchased 2,500 shares of the company's stock for a total of $230,925, increasing his ownership by 100% to a total of 5,000 shares.
• The company reported earnings of $1.26 per share, exceeding expectations and showing a 7.7% revenue increase year-over-year.
• Medtronic announced a quarterly dividend of $0.71 per share, with an upcoming payment on October 17th, which translates to an annual yield of 3.1%.

Medtronic PLC (NYSE:MDT - Get Free Report) Director William Jellison acquired 2,500 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Medtronic Stock Down 0.7%

Shares of NYSE MDT traded down $0.69 during mid-day trading on Monday, hitting $92.02. The company had a trading volume of 4,763,821 shares, compared to its average volume of 7,593,159. The company has a market capitalization of $117.95 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 2.35 and a beta of 0.80. The firm has a 50-day simple moving average of $89.73 and a two-hundred day simple moving average of $87.99. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The company had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter last year, the company earned $1.23 EPS. Medtronic'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. On average, equities analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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 paid 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 78.24%.

Institutional Investors Weigh In On Medtronic

Several institutional investors and hedge funds have recently bought and sold shares of MDT. Commerce Bank raised its position in Medtronic by 1.7% during the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock valued at $13,118,000 after purchasing an additional 2,429 shares in the last quarter. Brighton Jones LLC raised its position in Medtronic by 1,368.0% during 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 in the last quarter. Oxford Asset Management LLP raised its position in Medtronic by 70.1% during the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock valued at $594,000 after purchasing an additional 3,068 shares in the last quarter. Insight Inv LLC raised its position in Medtronic by 84.2% during the first quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock valued at $2,467,000 after purchasing an additional 12,550 shares in the last quarter. Finally, Korea Investment CORP raised its position in Medtronic by 24.1% during the first quarter. Korea Investment CORP now owns 1,141,565 shares of the medical technology company's stock valued at $102,581,000 after purchasing an additional 221,568 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MDT. UBS Group raised their target price on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Royal Bank Of Canada cut their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Robert W. Baird raised their price objective on shares of Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Finally, Truist Financial raised their price objective on shares of Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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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