Foster & Motley Inc. Acquires 3,305 Shares of Medtronic PLC $MDT

Foster & Motley Inc. lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 9.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 38,185 shares of the medical technology company’s stock after acquiring an additional 3,305 shares during the period. Foster & Motley Inc.’s holdings in Medtronic were worth $3,329,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Legacy Advisory Services LLC acquired a new stake in shares of Medtronic during the 1st quarter worth about $541,000. GC Wealth Management RIA LLC increased its position in shares of Medtronic by 20.6% during the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after purchasing an additional 5,734 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Medtronic by 22.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after purchasing an additional 5,296 shares in the last quarter. RNC Capital Management LLC increased its position in shares of Medtronic by 8.8% during the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after purchasing an additional 33,729 shares in the last quarter. Finally, Commerce Bank increased its position in shares of Medtronic by 1.7% during the 1st quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock worth $13,118,000 after purchasing an additional 2,429 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Activity

In other Medtronic news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction dated 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 owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of 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 position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MDT has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $111.00 price objective on shares of Medtronic in a research report on Friday, October 10th. Finally, Mizuho raised their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Medtronic Trading Up 0.6%

MDT opened at $95.62 on Friday. 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 $122.65 billion, a PE ratio of 26.34, a PEG ratio of 2.52 and a beta of 0.78. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The firm has a 50-day moving average price of $94.07 and a two-hundred day moving average price of $88.98.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 13.63% and a return on equity of 14.61%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a $0.71 dividend. This represents a $2.84 annualized dividend 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%.

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.