Beacon Financial Group Has $1.27 Million Stock Holdings in Medtronic PLC $MDT

Beacon Financial Group increased its position in Medtronic PLC (NYSE:MDT) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 14,612 shares of the medical technology company’s stock after purchasing an additional 363 shares during the quarter. Beacon Financial Group’s holdings in Medtronic were worth $1,274,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Boston Partners boosted its stake in Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after purchasing an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Medtronic by 28.8% in the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after purchasing an additional 3,461,221 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Medtronic by 42.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after purchasing an additional 3,017,849 shares during the period. Nuveen LLC bought a new stake in shares of Medtronic in the 1st quarter worth approximately $260,649,000. Finally, Burgundy Asset Management Ltd. bought a new stake in shares of Medtronic in the 4th quarter worth approximately $174,329,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at approximately $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.

Medtronic Price Performance

Shares of MDT opened at $94.19 on Wednesday. The stock has a market cap of $120.82 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 2.46 and a beta of 0.77. 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 PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The firm’s 50-day simple moving average is $91.72 and its two-hundred day simple moving average is $88.30.

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. The business had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

MDT has been the topic of a number of research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 price target (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Wells Fargo & Company boosted their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Leerink Partners started coverage on shares of Medtronic in a report on Monday, June 16th. They set an “outperform” rating and a $110.00 target price on the stock. Mizuho boosted their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Finally, Robert W. Baird boosted their price target on shares of Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $102.14.

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.