Kestra Investment Management LLC Purchases 16,575 Shares of Medtronic PLC $MDT

Kestra Investment Management LLC raised its position in shares of Medtronic PLC (NYSE:MDT) by 248.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,239 shares of the medical technology company’s stock after acquiring an additional 16,575 shares during the quarter. Kestra Investment Management LLC’s holdings in Medtronic were worth $2,088,000 as of its most recent SEC filing.

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

Medtronic Trading Up 0.1%

MDT opened at $92.93 on Friday. 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 PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The firm has a market capitalization of $119.20 billion, a PE ratio of 25.60, a P/E/G ratio of 2.36 and a beta of 0.77. The company’s 50-day moving average is $90.97 and its 200 day moving average is $88.14.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the business posted $1.23 EPS. The firm’s revenue 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, research analysts predict 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 will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio is currently 78.24%.

Wall Street Analyst Weigh In

A number of analysts have commented on MDT shares. Argus upped their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Royal Bank Of Canada dropped their price objective on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Evercore ISI upped their price objective on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.14.

Insider Transactions at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

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.