Medtronic PLC $MDT Shares Bought by Corundum Group Inc.

Corundum Group Inc. raised its position in Medtronic PLC (NYSE:MDT) by 4.1% in the 2nd quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent quarter.

Several other institutional investors 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 valued at $619,460,000 after acquiring an additional 3,809,450 shares in 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 valued at $1,391,141,000 after acquiring an additional 3,461,221 shares in 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 valued at $903,915,000 after acquiring an additional 3,017,849 shares in the last quarter. Nuveen LLC acquired a new position in Medtronic in the 1st quarter valued at 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 valued at $216,753,000 after acquiring an additional 1,660,357 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDT has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Robert W. Baird boosted their price objective on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Mizuho boosted their price objective on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. BTIG Research reissued a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. Finally, Evercore ISI boosted their price objective on Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.27.

Medtronic Price Performance

MDT stock opened at $97.63 on Friday. The business has a 50 day moving average price of $92.94 and a 200 day moving average price of $88.50. The stock has a market cap of $125.23 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.51 and a beta of 0.78. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two 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.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 14.61% and a net margin of 13.63%.The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.9%. Medtronic’s payout ratio is currently 78.24%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by 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.