Medtronic PLC $MDT Shares Bought by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. lifted its holdings in Medtronic PLC (NYSE:MDT) by 13.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,106 shares of the medical technology company’s stock after purchasing an additional 9,260 shares during the period. Medtronic comprises about 1.1% of Hudson Edge Investment Partners Inc.’s portfolio, making the stock its 21st largest holding. Hudson Edge Investment Partners Inc.’s holdings in Medtronic were worth $6,721,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MDT. Burkett Financial Services LLC raised its stake in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after buying an additional 185 shares during the period. 1248 Management LLC purchased a new stake in Medtronic in the 1st quarter worth $26,000. Columbia River Financial Group LLC purchased a new stake in Medtronic in the 1st quarter worth $28,000. Twin Tree Management LP acquired a new position in Medtronic during the first quarter worth $29,000. Finally, Activest Wealth Management lifted its holdings in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director 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 disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MDT. Daiwa Capital Markets lifted their target price on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Morgan Stanley reiterated an “overweight” rating and issued a $107.00 price objective (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Robert W. Baird increased their target price on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. William Blair upgraded Medtronic to a “hold” rating in a research report on Friday, July 11th. Finally, Sanford C. Bernstein increased 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.27.

Medtronic Stock Up 0.8%

NYSE MDT opened at $95.57 on Friday. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25. The firm has a market cap of $122.59 billion, a PE ratio of 26.33, a P/E/G ratio of 2.50 and a beta of 0.78. The business’s fifty day simple moving average is $92.85 and its 200-day simple moving average is $88.46. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. Medtronic’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period 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. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

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.