Three Bridge Wealth Advisors LLC Purchases 2,472 Shares of Medtronic PLC $MDT

Three Bridge Wealth Advisors LLC grew its position in shares of Medtronic PLC (NYSE:MDT) by 13.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,015 shares of the medical technology company’s stock after purchasing an additional 2,472 shares during the period. Three Bridge Wealth Advisors LLC’s holdings in Medtronic were worth $1,847,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. 1248 Management LLC purchased a new stake in shares of Medtronic in the 1st quarter valued at about $26,000. Columbia River Financial Group LLC purchased a new position in Medtronic in the 1st quarter worth approximately $28,000. Twin Tree Management LP purchased a new position in Medtronic in the 1st quarter worth approximately $29,000. Activest Wealth Management grew its stake in Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after buying an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in Medtronic in the 1st quarter worth approximately $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Up 2.3%

Shares of NYSE:MDT opened at $97.63 on Friday. The stock’s 50-day moving average price is $92.94 and its 200-day moving average price is $88.48. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $97.94. The stock has a market capitalization of $125.23 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 2.57 and a beta of 0.78. The company has a current ratio of 2.01, a quick ratio of 1.50 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 earnings per share for the quarter, beating the consensus estimate 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 14.61% and a net margin of 13.63%.Medtronic’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s payout ratio is presently 78.24%.

Analysts Set New Price Targets

MDT has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Robert W. Baird raised their price target on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Truist Financial raised their price target on Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Citigroup increased their price objective on Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Finally, Daiwa Capital Markets increased their price objective on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.94.

Insider Buying and Selling 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 shares were 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 of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, 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. 0.26% of the stock is owned by insiders.

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.