Medtronic PLC $MDT Shares Acquired by Optas LLC

Optas LLC lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 101.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,708 shares of the medical technology company’s stock after purchasing an additional 3,879 shares during the period. Optas LLC’s holdings in Medtronic were worth $672,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Medtronic by 0.7% in the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock valued at $11,233,780,000 after purchasing an additional 810,854 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Medtronic by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock valued at $2,001,903,000 after purchasing an additional 1,461,841 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Medtronic by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock valued at $1,858,332,000 after purchasing an additional 756,192 shares in the last quarter. Deutsche Bank AG boosted its holdings in Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after purchasing an additional 566,155 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Medtronic by 9.9% in the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock valued at $1,525,876,000 after purchasing an additional 1,535,308 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 0.5%

Shares of MDT stock opened at $97.88 on Thursday. The business’s fifty day moving average price is $93.31 and its 200 day moving average price is $88.65. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The firm has a market capitalization of $125.55 billion, a PE ratio of 26.96, a P/E/G ratio of 2.59 and a beta of 0.78. 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) last announced its quarterly earnings data 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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Medtronic’s quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their price target on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a report on Wednesday, October 1st. Robert W. Baird boosted 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. Daiwa Capital Markets boosted their price objective on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Finally, Argus boosted their price objective on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.63.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 8,605 shares of the 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 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 at the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were bought 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 of the company’s stock, 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. Company insiders own 0.26% of the company’s stock.

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.