Nvest Financial LLC Boosts Stake in Medtronic PLC $MDT

Nvest Financial LLC increased its position in Medtronic PLC (NYSE:MDT) by 6.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 11,272 shares of the medical technology company’s stock after purchasing an additional 696 shares during the period. Nvest Financial LLC’s holdings in Medtronic were worth $983,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. 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 stake in shares of Medtronic in the 1st quarter valued at about $28,000. Twin Tree Management LP purchased a new stake in shares of Medtronic in the 1st quarter valued at about $29,000. Activest Wealth Management lifted its holdings in shares of Medtronic by 3,577.8% in the 1st 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 during the last quarter. Finally, Hughes Financial Services LLC acquired a new position in Medtronic in the 1st quarter valued at about $32,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Sanford C. Bernstein boosted their price target on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Morgan Stanley restated an “overweight” rating and issued a $107.00 price target (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Daiwa Capital Markets boosted their price target on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Evercore ISI boosted their price target on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Finally, BTIG Research restated a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Medtronic Stock Performance

NYSE MDT opened at $95.29 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $93.94 and its two-hundred day moving average is $88.90. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The stock has a market capitalization of $122.23 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 2.54 and a beta of 0.78.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The firm’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. Research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared 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 dividend yield of 3.0%. Medtronic’s dividend payout ratio is currently 78.24%.

Insider Buying and Selling

In other news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

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.