Peterson Wealth Services Has $1.86 Million Stake in Medtronic PLC $MDT

Peterson Wealth Services boosted its position in shares of Medtronic PLC (NYSE:MDT) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,335 shares of the medical technology company’s stock after acquiring an additional 640 shares during the quarter. Peterson Wealth Services’ holdings in Medtronic were worth $1,860,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 1248 Management LLC acquired a new position in shares of Medtronic during the 1st quarter worth approximately $26,000. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic during the 1st quarter worth about $28,000. Twin Tree Management LP bought a new stake in shares of Medtronic during the 1st quarter worth about $29,000. Activest Wealth Management grew its stake in Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new position in Medtronic in the 1st quarter valued at about $32,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $93.76 on Friday. 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 stock has a market capitalization of $120.26 billion, a PE ratio of 25.83, a PEG ratio of 2.48 and a beta of 0.78. The firm has a 50 day moving average of $94.32 and a 200-day moving average of $89.33. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The company’s revenue 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, equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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 $0.71 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic’s dividend payout ratio is 78.24%.

Insider Buying and Selling

In other news, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MDT. Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Evercore ISI upped their price objective on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. William Blair raised 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 research report on Monday, June 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $111.00 price target on shares of Medtronic in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

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.