Medtronic PLC $MDT Shares Bought by Richards Merrill & Peterson Inc.

Richards Merrill & Peterson Inc. boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 6.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 17,828 shares of the medical technology company’s stock after purchasing an additional 1,082 shares during the period. Richards Merrill & Peterson Inc.’s holdings in Medtronic were worth $1,554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. Red Spruce Capital LLC boosted its stake in Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after acquiring an additional 118 shares in the last quarter. Certior Financial Group LLC grew its position in shares of Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after acquiring an additional 122 shares during the last quarter. Cidel Asset Management Inc. increased its holdings in shares of Medtronic by 1.3% in the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock valued at $856,000 after acquiring an additional 126 shares during the period. PrairieView Partners LLC raised its position in Medtronic by 3.6% in the 2nd quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock valued at $324,000 after purchasing an additional 128 shares during the last quarter. Finally, Motco raised its holdings in shares of Medtronic by 27.0% in the first quarter. Motco now owns 635 shares of the medical technology company’s stock valued at $57,000 after buying an additional 135 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on MDT. Evercore ISI lifted their target price on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. Daiwa Capital Markets raised their price target on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. Stifel Nicolaus raised their target price on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Finally, Truist Financial raised their price objective on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Buying and Selling at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction that occurred on 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 transaction, the executive vice president directly 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. Insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $93.76 on Friday. The firm’s fifty day simple moving average is $94.32 and its 200 day simple moving average is $89.33. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37. The firm has a market capitalization of $120.26 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 2.48 and a beta of 0.78.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the company earned $1.23 earnings per share. The company’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 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

About Medtronic

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.