Rossby Financial LCC Acquires 147 Shares of Medtronic PLC $MDT

Rossby Financial LCC lifted its holdings in Medtronic PLC (NYSE:MDT) by 7.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,044 shares of the medical technology company’s stock after buying an additional 147 shares during the quarter. Rossby Financial LCC’s holdings in Medtronic were worth $178,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MDT. 1248 Management LLC acquired a new stake in Medtronic in the first quarter worth about $26,000. Columbia River Financial Group LLC acquired a new stake in Medtronic in the first quarter worth about $28,000. Twin Tree Management LP acquired a new stake in Medtronic in the first quarter worth about $29,000. Activest Wealth Management increased its position in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new stake in Medtronic in the first quarter worth about $32,000. 82.06% of the stock is owned by institutional investors.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.26% of the stock is currently owned by insiders.

Medtronic Price Performance

Medtronic stock opened at $93.33 on Wednesday. The firm has a market capitalization of $119.72 billion, a P/E ratio of 25.71, a PEG ratio of 2.48 and a beta of 0.78. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The business has a 50-day moving average of $94.42 and a 200-day moving average of $89.55. 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 (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. The company had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors 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 currently 78.24%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Argus lifted their price objective on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Morgan Stanley reiterated an “overweight” rating and issued a $107.00 price objective (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $111.00 price objective on shares of Medtronic in a research report on Friday, October 10th. Robert W. Baird boosted their target price on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Finally, Sanford C. Bernstein boosted their target price on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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.