Medtronic PLC $MDT Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,138,950 shares of the medical technology company’s stock after purchasing an additional 40,938 shares during the period. ProShare Advisors LLC’s holdings in Medtronic were worth $186,452,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC lifted its position in Medtronic by 1,368.0% during the 4th 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. Alps Advisors Inc. raised its stake in shares of Medtronic by 1.1% in the first quarter. Alps Advisors Inc. now owns 27,427 shares of the medical technology company’s stock worth $2,465,000 after purchasing an additional 290 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Medtronic by 4.1% during the first quarter. Ballentine Partners LLC now owns 16,947 shares of the medical technology company’s stock worth $1,523,000 after purchasing an additional 660 shares during the period. Kathmere Capital Management LLC lifted its holdings in shares of Medtronic by 64.4% during the first quarter. Kathmere Capital Management LLC now owns 5,984 shares of the medical technology company’s stock worth $538,000 after purchasing an additional 2,343 shares during the period. Finally, FDx Advisors Inc. purchased a new stake in Medtronic in the first quarter valued at approximately $294,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $92.22 on Monday. 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’s fifty day moving average price is $94.20 and its 200 day moving average price is $90.05. The stock has a market capitalization of $118.29 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.42 and a beta of 0.77. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic’s dividend payout ratio is presently 78.24%.

Analyst Ratings Changes

A number of equities analysts have issued reports on MDT shares. Citigroup raised their price target on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group reduced their target price on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a report on Wednesday, October 1st. Royal Bank Of Canada restated an “outperform” rating and set a $111.00 target price on shares of Medtronic in a research report on Friday, October 10th. Sanford C. Bernstein reiterated an “outperform” rating and set a $98.00 price objective on shares of Medtronic in a research note on Friday, October 31st. Finally, Stifel Nicolaus upped their price objective on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Insider Buying and Selling

In other news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction that occurred on 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 purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available 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 completion of the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.26% of the stock is owned by corporate insiders.

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.