RPG Investment Advisory LLC Boosts Stake in Medtronic PLC $MDT

RPG Investment Advisory LLC boosted its position in shares of Medtronic PLC (NYSE:MDT) by 105.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 310,218 shares of the medical technology company’s stock after purchasing an additional 159,361 shares during the period. Medtronic makes up 2.0% of RPG Investment Advisory LLC’s holdings, making the stock its 20th biggest holding. RPG Investment Advisory LLC’s holdings in Medtronic were worth $27,876,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MDT. Brighton Jones LLC raised its stake 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 worth $3,194,000 after purchasing an additional 37,265 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Medtronic by 1.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,041,286 shares of the medical technology company’s stock valued at $562,460,000 after acquiring an additional 105,263 shares during the last quarter. MGO One Seven LLC increased its position in shares of Medtronic by 2.1% during the fourth quarter. MGO One Seven LLC now owns 22,219 shares of the medical technology company’s stock valued at $1,775,000 after acquiring an additional 449 shares during the last quarter. Coppell Advisory Solutions LLC increased its position in shares of Medtronic by 13.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 2,095 shares of the medical technology company’s stock valued at $167,000 after acquiring an additional 248 shares during the last quarter. Finally, Syon Capital LLC increased its position in shares of Medtronic by 17.1% during the fourth quarter. Syon Capital LLC now owns 9,759 shares of the medical technology company’s stock valued at $780,000 after acquiring an additional 1,422 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and set a $107.00 price target (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Mizuho lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. BTIG Research restated a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Finally, Leerink Partners assumed coverage on shares of Medtronic in a report on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.15.

Medtronic Stock Down 2.3%

Shares of Medtronic stock opened at $91.1180 on Friday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25. The company has a 50 day moving average of $89.62 and a 200 day moving average of $88.02. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $116.80 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.40 and a beta of 0.80.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion during 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 14.56%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter 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, research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic’s 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.