Boyar Asset Management Inc. Has $538,000 Holdings in Medtronic PLC $MDT

Boyar Asset Management Inc. grew its position in Medtronic PLC (NYSE:MDT) by 8.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,169 shares of the medical technology company’s stock after purchasing an additional 506 shares during the quarter. Boyar Asset Management Inc.’s holdings in Medtronic were worth $538,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Red Spruce Capital LLC boosted its position in shares of Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after acquiring an additional 118 shares during the period. Certior Financial Group LLC grew its position in shares of Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after purchasing an additional 122 shares in the last quarter. Dunhill Financial LLC increased its holdings in shares of Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock worth $76,000 after purchasing an additional 124 shares during the period. Cidel Asset Management Inc. raised its position 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. Finally, Petros Family Wealth LLC boosted its stake in shares of Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock valued at $280,000 after buying an additional 127 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Up 2.3%

MDT stock opened at $97.63 on Friday. The firm has a 50-day moving average price of $92.94 and a 200-day moving average price of $88.50. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $97.94. 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 stock has a market capitalization of $125.23 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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 business had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 EPS. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. Medtronic’s payout ratio is currently 78.24%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company’s 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 completion of the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on MDT. Evercore ISI lifted their price objective on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Robert W. Baird boosted their price target on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research note on Saturday, September 27th. Citigroup raised their target price on shares of Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $107.00 price target (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.27.

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.