Tevis Investment Management Increases Position in Medtronic PLC $MDT

Tevis Investment Management increased its stake in Medtronic PLC (NYSE:MDT) by 24.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 52,552 shares of the medical technology company’s stock after acquiring an additional 10,248 shares during the period. Medtronic comprises 3.0% of Tevis Investment Management’s holdings, making the stock its 8th largest position. Tevis Investment Management’s holdings in Medtronic were worth $4,618,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MDT. Brighton Jones LLC lifted its holdings in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Medtronic by 11.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 156,185 shares of the medical technology company’s stock valued at $13,686,000 after acquiring an additional 16,136 shares in the last quarter. Sovran Advisors LLC raised its stake in Medtronic by 13.6% during the 1st quarter. Sovran Advisors LLC now owns 5,532 shares of the medical technology company’s stock valued at $457,000 after acquiring an additional 661 shares in the last quarter. Essex Financial Services Inc. raised its stake in Medtronic by 27.2% during the 1st quarter. Essex Financial Services Inc. now owns 15,675 shares of the medical technology company’s stock valued at $1,409,000 after acquiring an additional 3,350 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC raised its stake in Medtronic by 30.2% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 14,601 shares of the medical technology company’s stock valued at $1,312,000 after acquiring an additional 3,385 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.5%

Shares of MDT stock opened at $94.09 on Tuesday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The stock has a market cap of $120.69 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. The business’s fifty day moving average is $94.35 and its 200-day moving average is $89.48. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01.

Medtronic (NYSE:MDT) last issued its quarterly 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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the firm earned $1.23 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s payout ratio is presently 78.24%.

Analysts Set New Price Targets

MDT has been the topic of several recent analyst reports. William Blair raised Medtronic to a “hold” rating in a research note on Friday, July 11th. Mizuho lifted their target price on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Sanford C. Bernstein lifted their target price on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Citigroup lifted their target price on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $111.00 target price on shares of Medtronic in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.82.

Insiders Place Their Bets

In related news, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.