Medtronic PLC $MDT Stake Boosted by Bessemer Group Inc.

Bessemer Group Inc. increased its position in shares of Medtronic PLC (NYSE:MDT) by 31.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,363,264 shares of the medical technology company’s stock after purchasing an additional 326,117 shares during the quarter. Bessemer Group Inc. owned 0.11% of Medtronic worth $118,836,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MDT. 1248 Management LLC bought a new position in Medtronic during the first quarter worth $26,000. Columbia River Financial Group LLC bought a new position in Medtronic during the first quarter worth $28,000. Twin Tree Management LP bought a new position in Medtronic during the first quarter worth $29,000. Activest Wealth Management lifted its stake in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new position in Medtronic during the first quarter worth $32,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MDT. BTIG Research restated a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Wells Fargo & Company increased their target price on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Truist Financial increased their target price on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. UBS Group increased their target price on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Finally, Wolfe Research raised Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.82.

Medtronic Price Performance

Shares of NYSE MDT opened at $94.09 on Tuesday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The business’s fifty day moving average price is $94.35 and its two-hundred day moving average price is $89.48. The firm has a market capitalization of $120.69 billion, a PE ratio of 25.92, a P/E/G ratio of 2.47 and a beta of 0.78.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is 78.24%.

Insiders Place Their Bets

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction dated Monday, August 25th. The shares were bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president directly 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. 0.26% of the stock is currently owned by company insiders.

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.