Phoenix Financial Ltd. Buys 19,767 Shares of Medtronic PLC $MDT

Phoenix Financial Ltd. grew its stake in Medtronic PLC (NYSE:MDT) by 37.9% during the second quarter, Holdings Channel reports. The firm owned 71,856 shares of the medical technology company’s stock after purchasing an additional 19,767 shares during the period. Phoenix Financial Ltd.’s holdings in Medtronic were worth $6,360,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MDT. 1248 Management LLC purchased a new stake in shares of Medtronic during the first quarter valued at approximately $26,000. Columbia River Financial Group LLC purchased a new stake in shares of Medtronic during the first quarter valued at approximately $28,000. Twin Tree Management LP purchased a new stake in shares of Medtronic during the first quarter valued at approximately $29,000. Activest Wealth Management increased its position in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after acquiring an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in shares of Medtronic during the first quarter valued at approximately $32,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MDT. Wells Fargo & Company increased their price target on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. Mizuho increased their price target on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Insider Buying and Selling at Medtronic

In related news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The stock was bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $461,850. This trade represents 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 accessible through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction 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 owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Medtronic Trading Up 0.2%

Shares of Medtronic stock opened at $95.97 on Tuesday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The stock’s 50-day simple moving average is $94.13 and its 200 day simple moving average is $89.08. The stock has a market capitalization of $123.10 billion, a P/E ratio of 26.44, a P/E/G ratio of 2.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

Medtronic 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.