Medtronic PLC $MDT Holdings Raised by Fred Alger Management LLC

Fred Alger Management LLC increased its stake in Medtronic PLC (NYSE:MDT) by 33.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,994 shares of the medical technology company’s stock after purchasing an additional 12,193 shares during the quarter. Fred Alger Management LLC’s holdings in Medtronic were worth $4,437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Burkett Financial Services LLC raised its position in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after buying an additional 185 shares in the last quarter. 1248 Management LLC bought a new stake in Medtronic during the first quarter worth approximately $26,000. Wood Tarver Financial Group LLC acquired a new stake in Medtronic in the fourth quarter worth approximately $27,000. Columbia River Financial Group LLC acquired a new stake in Medtronic in the first quarter worth approximately $28,000. Finally, Twin Tree Management LP bought a new position in Medtronic during the 1st quarter valued at $29,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $94.04 on Wednesday. The stock’s 50-day moving average price is $91.19 and its two-hundred day moving average price is $88.20. 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 company has a market cap of $120.62 billion, a PE ratio of 25.91, a PEG ratio of 2.36 and a beta of 0.77. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS 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 company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the company posted $1.23 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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

Analyst Ratings Changes

MDT has been the subject of several research analyst reports. William Blair upgraded Medtronic to a “hold” rating in a report on Friday, July 11th. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. 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. Citigroup boosted their target price on shares of Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Finally, BTIG Research reissued a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.14.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction on 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 $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William R. Jellison purchased 2,500 shares of the stock in a transaction dated Monday, August 25th. The shares were acquired 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 $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.

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.