Jacobi Capital Management LLC Has $1.62 Million Stake in Medtronic PLC $MDT

Jacobi Capital Management LLC decreased its position in Medtronic PLC (NYSE:MDT) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,075 shares of the medical technology company’s stock after selling 490 shares during the period. Jacobi Capital Management LLC’s holdings in Medtronic were worth $1,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC increased its stake in Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares in the last quarter. 1248 Management LLC bought a new stake in Medtronic in the first quarter valued at $26,000. Wood Tarver Financial Group LLC bought a new stake in Medtronic in the fourth quarter valued at $27,000. Columbia River Financial Group LLC bought a new stake in Medtronic in the first quarter valued at $28,000. Finally, Twin Tree Management LP bought a new stake in Medtronic in the first quarter valued at $29,000. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 2.0%

NYSE:MDT opened at $94.13 on Friday. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The company has a market cap of $120.74 billion, a PE ratio of 25.93, a PEG ratio of 2.43 and a beta of 0.77. The firm has a 50-day moving average of $91.39 and a 200-day moving average of $88.26. 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 released 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. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the previous year, the company earned $1.23 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic’s payout ratio is 78.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MDT shares. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Wells Fargo & Company lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Evercore ISI lifted their price target on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Leerink Partners began coverage on shares of Medtronic in a research report on Monday, June 16th. They set an “outperform” rating and a $110.00 target price for the company. Finally, Sanford C. Bernstein boosted their target price on shares of Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.14.

Insider Activity

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business’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 transaction, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was 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 insiders.

Medtronic Company 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.