Northstar Financial Companies Inc. Buys Shares of 2,343 Medtronic PLC $MDT

Northstar Financial Companies Inc. purchased a new position in shares of Medtronic PLC (NYSE:MDT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,343 shares of the medical technology company’s stock, valued at approximately $211,000.

A number of other hedge funds also recently modified their holdings of the business. Dunhill Financial LLC raised its position in shares of Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock worth $76,000 after purchasing an additional 124 shares during the period. Cidel Asset Management Inc. raised its position in shares of Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock worth $856,000 after purchasing an additional 126 shares during the period. Petros Family Wealth LLC raised its position in shares of Medtronic by 4.3% during the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock worth $280,000 after purchasing an additional 127 shares during the period. Motco raised its position in shares of Medtronic by 27.0% during the first quarter. Motco now owns 635 shares of the medical technology company’s stock worth $57,000 after purchasing an additional 135 shares during the period. Finally, Baker Avenue Asset Management LP raised its position in shares of Medtronic by 3.1% during the first quarter. Baker Avenue Asset Management LP now owns 4,558 shares of the medical technology company’s stock worth $410,000 after purchasing an additional 136 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Truist Financial increased their price objective on Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a report on Thursday, August 21st. William Blair upgraded Medtronic to a “hold” rating in a report on Friday, July 11th. Morgan Stanley reiterated an “overweight” rating and set a $107.00 price objective (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, Evercore ISI increased their price objective on Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and an average price target of $102.14.

Medtronic Stock Performance

NYSE:MDT opened at $91.98 on Thursday. The stock has a market cap of $118.00 billion, a P/E ratio of 25.34, a PEG ratio of 2.34 and a beta of 0.80. The stock has a 50 day simple moving average of $90.06 and a 200 day simple moving average of $88.06. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25.

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. The business had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic’s payout ratio is currently 78.24%.

Insiders Place Their Bets

In related news, Director William R. Jellison acquired 2,500 shares of the company’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 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.