Dupont Capital Management Corp Invests $6.21 Million in Medtronic PLC $MDT

Dupont Capital Management Corp bought a new position in shares of Medtronic PLC (NYSE:MDT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 71,252 shares of the medical technology company’s stock, valued at approximately $6,211,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. 1248 Management LLC bought a new stake in shares of Medtronic during the first quarter worth $26,000. Columbia River Financial Group LLC purchased a new position in shares of Medtronic during the first quarter valued at $28,000. Twin Tree Management LP purchased a new position in shares of Medtronic during the first quarter valued at $29,000. Activest Wealth Management increased its stake in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the period. Finally, Hughes Financial Services LLC purchased a new position in shares of Medtronic during the first quarter valued at $32,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

Shares of MDT stock opened at $95.97 on Tuesday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The stock’s 50-day moving average is $94.13 and its 200 day moving average is $89.08. The company has a market cap of $123.10 billion, a P/E ratio of 26.44, a PEG ratio of 2.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued 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 dividend payout ratio (DPR) is currently 78.24%.

Analysts Set New Price Targets

MDT has been the topic of several research reports. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Evercore ISI raised their price target on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Truist Financial raised their price target on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Wells Fargo & Company raised their price objective on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Finally, Daiwa Capital Markets raised their price objective on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the firm’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 sale, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director 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 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.