Paradigm Asset Management Co. LLC Makes New Investment in Medtronic PLC $MDT

Paradigm Asset Management Co. LLC bought a new stake in Medtronic PLC (NYSE:MDT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,900 shares of the medical technology company’s stock, valued at approximately $1,560,000.

A number of other hedge funds have also made changes to their positions in MDT. 1248 Management LLC acquired a new stake in shares of Medtronic in the 1st quarter valued at about $26,000. Twin Tree Management LP bought a new stake in Medtronic in the first quarter valued at about $29,000. Activest Wealth Management raised its stake in 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 buying an additional 322 shares in the last quarter. Hughes Financial Services LLC bought a new position in Medtronic during the 1st quarter worth approximately $32,000. Finally, Investment Management Corp VA ADV lifted its holdings in Medtronic by 144.2% during the 1st quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock worth $36,000 after buying an additional 238 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MDT. Royal Bank Of Canada reiterated an “outperform” rating and issued a $111.00 price target on shares of Medtronic in a report on Friday, October 10th. 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, October 1st. Morgan Stanley reissued an “overweight” rating and set a $107.00 target price (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Wells Fargo & Company lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. One investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.26% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $92.22 on Friday. The company has a 50-day moving average price of $94.20 and a two-hundred day moving average price of $89.96. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The stock has a market cap of $118.29 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio is presently 78.24%.

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.