Advisory Alpha LLC Raises Stake in Medtronic PLC $MDT

Advisory Alpha LLC increased its stake in Medtronic PLC (NYSE:MDT) by 15.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,663 shares of the medical technology company’s stock after buying an additional 357 shares during the period. Advisory Alpha LLC’s holdings in Medtronic were worth $232,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. Boston Partners boosted its holdings in shares of 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 buying an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of 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 buying an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 buying an additional 3,017,849 shares during the last quarter. Nuveen LLC purchased a new position in shares of Medtronic in the 1st quarter worth about $260,649,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of 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 buying an additional 1,660,357 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.9%

Shares of Medtronic stock opened at $90.88 on Friday. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The company has a market cap of $116.57 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.42 and a beta of 0.78. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average price is $94.38 and its 200-day moving average price is $89.62.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The company’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. On average, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders 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 3.1%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s dividend payout ratio is presently 78.24%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MDT shares. Argus boosted their price target on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Mizuho upped their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Sanford C. Bernstein upped their price objective on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $111.00 price objective on shares of Medtronic in a report on Friday, October 10th. Finally, Citigroup upped their price objective on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Transactions at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was 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 directly 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 SEC filing for this sale provides additional information. Corporate 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.