1248 Management LLC Purchases New Stake in Medtronic PLC $MDT

1248 Management LLC purchased a new stake in Medtronic PLC (NYSE:MDT) in the first quarter, HoldingsChannel.com reports. The fund purchased 283 shares of the medical technology company’s stock, valued at approximately $26,000.

Several other institutional investors have also recently bought and sold shares of MDT. Burkett Financial Services LLC raised its stake in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 185 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new position in Medtronic during the fourth quarter worth about $27,000. Columbia River Financial Group LLC acquired a new position in Medtronic during the first quarter worth about $28,000. Twin Tree Management LP acquired a new position in Medtronic during the first quarter worth about $29,000. Finally, Activest Wealth Management raised its stake in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 322 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’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 sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MDT. 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 note on Wednesday, August 20th. Truist Financial boosted their target price on Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a research note on Thursday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Royal Bank Of Canada reduced their price target on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Finally, UBS Group upped their target price on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.14.

Medtronic Price Performance

Shares of NYSE:MDT opened at $94.05 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The stock’s 50 day moving average is $91.50 and its 200-day moving average is $88.28. The firm has a market capitalization of $120.64 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.48 and a beta of 0.77.

Medtronic (NYSE:MDT) last issued its earnings results 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. The company had revenue of $8.58 billion for 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%.Medtronic’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

Medtronic Company 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.