SteelPeak Wealth LLC Makes New Investment in Medtronic PLC $MDT

SteelPeak Wealth LLC acquired a new stake in shares of Medtronic PLC (NYSE:MDT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,498 shares of the medical technology company’s stock, valued at approximately $218,000.

Several other hedge funds have also recently modified their holdings of MDT. 1248 Management LLC purchased a new stake in Medtronic in the first quarter valued at approximately $26,000. Columbia River Financial Group LLC purchased a new stake in Medtronic in the 1st quarter worth approximately $28,000. Twin Tree Management LP purchased a new stake in Medtronic in the 1st quarter worth approximately $29,000. Activest Wealth Management lifted its position in shares of Medtronic by 3,577.8% during 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 in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in shares of Medtronic during the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 1.5%

NYSE:MDT opened at $96.42 on Friday. The stock’s 50 day simple moving average is $93.44 and its 200-day simple moving average is $88.69. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The firm has a market cap of $123.68 billion, a P/E ratio of 26.56, a PEG ratio of 2.58 and a beta of 0.78. 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 announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share 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 firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Medtronic’s quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced 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 2.9%. Medtronic’s dividend payout ratio is 78.24%.

Insider Buying and Selling at Medtronic

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

Wall Street Analyst Weigh In

MDT has been the subject of several recent research reports. BTIG Research reissued a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Evercore ISI raised their price objective on Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Daiwa Capital Markets raised their price objective on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. The Goldman Sachs Group lowered their target price on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a report on Wednesday, October 1st. Finally, Leerink Partners initiated coverage on Medtronic in a research note on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective for the company. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.82.

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.