BayBridge Capital Group LLC Increases Stock Position in Medtronic PLC $MDT

BayBridge Capital Group LLC lifted its holdings in Medtronic PLC (NYSE:MDT) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,105 shares of the medical technology company’s stock after buying an additional 354 shares during the period. BayBridge Capital Group LLC’s holdings in Medtronic were worth $1,491,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. Burkett Financial Services LLC grew its stake in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 185 shares during the period. 1248 Management LLC purchased a new position in Medtronic during the 1st quarter valued at about $26,000. Columbia River Financial Group LLC acquired a new position in shares of Medtronic during the first quarter worth approximately $28,000. Twin Tree Management LP bought a new stake in Medtronic in the first quarter valued at $29,000. Finally, Activest Wealth Management lifted its stake in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after acquiring an additional 322 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.

Medtronic Trading Up 0.0%

NYSE:MDT opened at $94.34 on Friday. The stock has a market capitalization of $121.01 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. The business’s 50-day simple moving average is $92.57 and its 200-day simple moving average is $88.38. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts expect 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 will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s payout ratio is 78.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MDT shares. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Wolfe Research raised Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. Leerink Partners began coverage on shares of Medtronic in a report on Monday, June 16th. They set an “outperform” rating and a $110.00 price objective for the company. Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a research note on Monday, June 16th. Finally, Truist Financial upped their target price on shares of Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $102.27.

Medtronic Company 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.