Medtronic PLC $MDT Shares Purchased by Corundum Group Inc.

Corundum Group Inc. boosted its stake in Medtronic PLC (NYSE:MDT) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,359 shares of the medical technology company’s stock after acquiring an additional 328 shares during the quarter. Corundum Group Inc.’s holdings in Medtronic were worth $729,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Red Spruce Capital LLC grew its stake in Medtronic by 0.5% in the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after acquiring an additional 118 shares during the period. Certior Financial Group LLC grew its stake in Medtronic by 3.7% in the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after acquiring an additional 122 shares during the period. Dunhill Financial LLC grew its stake in Medtronic by 17.2% in the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock valued at $76,000 after acquiring an additional 124 shares during the period. Cidel Asset Management Inc. grew its stake in Medtronic by 1.3% in the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock valued at $856,000 after acquiring an additional 126 shares during the period. Finally, Petros Family Wealth LLC grew its stake in Medtronic by 4.3% in the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock valued at $280,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 2.3%

NYSE MDT opened at $97.63 on Friday. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $97.94. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $92.94 and its 200-day simple moving average is $88.50. The firm has a market cap of $125.23 billion, a PE ratio of 26.90, a P/E/G ratio of 2.51 and a beta of 0.78.

Medtronic (NYSE:MDT) last posted its quarterly 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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MDT shares. Daiwa Capital Markets raised their price objective on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. Leerink Partners started coverage on Medtronic in a report on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective on the stock. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Citigroup raised their price objective on Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Finally, Wells Fargo & Company raised their price objective on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.27.

Insider Transactions at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the business’s 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 transaction, the director 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was 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 $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

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.