L. Roy Papp & Associates LLP Has $587,000 Stake in Medtronic PLC $MDT

L. Roy Papp & Associates LLP increased its stake in shares of Medtronic PLC (NYSE:MDT) by 32.1% during the second quarter, HoldingsChannel reports. The fund owned 6,734 shares of the medical technology company’s stock after buying an additional 1,635 shares during the period. L. Roy Papp & Associates LLP’s holdings in Medtronic were worth $587,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Advisory Services LLC acquired a new stake in shares of Medtronic during the first quarter worth $541,000. GC Wealth Management RIA LLC raised its holdings in shares of Medtronic by 20.6% during the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after acquiring an additional 5,734 shares during the period. RNC Capital Management LLC raised its holdings in shares of Medtronic by 8.8% during the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after acquiring an additional 33,729 shares during the period. Commerce Bank raised its holdings in shares of Medtronic by 1.7% during the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock worth $13,118,000 after acquiring an additional 2,429 shares during the period. Finally, Brighton Jones LLC raised its holdings in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 of the company’s stock, 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 owned by insiders.

Medtronic Stock Performance

Shares of MDT stock opened at $96.42 on Friday. The company has a market capitalization of $123.68 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.58 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. The company has a 50-day simple moving average of $93.44 and a 200 day simple moving average of $88.69. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. Medtronic’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts predict that Medtronic PLC will post 5.46 earnings per share for the current 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 paid a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s payout ratio is 78.24%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MDT. Sanford C. Bernstein raised their target price on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. UBS Group raised their target price on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday. Evercore ISI raised their target price on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Finally, Leerink Partnrs raised shares of Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.82.

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.