Medtronic PLC $MDT Stock Position Raised by O Keefe Stevens Advisory Inc.

O Keefe Stevens Advisory Inc. grew its position in Medtronic PLC (NYSE:MDT) by 17.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,118 shares of the medical technology company’s stock after purchasing an additional 1,651 shares during the period. O Keefe Stevens Advisory Inc.’s holdings in Medtronic were worth $969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. Boston Partners grew its position in Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after purchasing an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. grew its position in 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 last quarter. Price T Rowe Associates Inc. MD grew its position in 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 last quarter. Nuveen LLC bought a new position in Medtronic in the 1st quarter worth about $260,649,000. Finally, Mackenzie Financial Corp grew its position in Medtronic by 220.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after purchasing an additional 1,660,357 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 2.3%

Shares of NYSE:MDT opened at $97.63 on Friday. The stock has a market capitalization of $125.23 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.57 and a beta of 0.78. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $97.94. 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 moving average price of $92.94 and a 200 day moving average price of $88.48.

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 firm had revenue of $8.58 billion during 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 firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio is 78.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. BTIG Research reiterated a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Argus increased their price objective on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Leerink Partners assumed coverage on shares of Medtronic in a report on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective for the company. The Goldman Sachs Group decreased their price objective on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $100.94.

Insider Activity at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction that occurred 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 transaction, the director owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were 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 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.

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.