Jacobsen Capital Management Invests $200,000 in Medtronic PLC $MDT

Jacobsen Capital Management bought a new stake in Medtronic PLC (NYSE:MDT) during the 2nd quarter, HoldingsChannel reports. The fund bought 2,298 shares of the medical technology company’s stock, valued at approximately $200,000.

Several other large investors have also recently added to or reduced their stakes in MDT. Red Spruce Capital LLC boosted its holdings in Medtronic by 0.5% in the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after purchasing an additional 118 shares in the last quarter. Certior Financial Group LLC lifted its holdings in shares of Medtronic by 3.7% in the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after buying an additional 122 shares during the period. Cidel Asset Management Inc. boosted its stake in shares of Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock valued at $856,000 after buying an additional 126 shares in the last quarter. Petros Family Wealth LLC grew its holdings in Medtronic by 4.3% during the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock worth $280,000 after acquiring an additional 127 shares during the period. Finally, PrairieView Partners LLC grew its holdings in Medtronic by 3.6% during the second quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock worth $324,000 after acquiring an additional 128 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MDT shares. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. 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. Truist Financial upped their price target on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Finally, Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Stock Down 0.1%

MDT opened at $95.84 on Wednesday. The business’s fifty day simple moving average is $94.20 and its 200 day simple moving average is $89.13. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The firm has a market cap of $122.93 billion, a P/E ratio of 26.40, a PEG ratio of 2.53 and a beta of 0.78. 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 released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the firm earned $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. As a group, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s payout ratio is presently 78.24%.

Insider Buying and Selling at Medtronic

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