eCIO Inc. Buys Shares of 2,385 Medtronic PLC $MDT

eCIO Inc. purchased a new position in shares of Medtronic PLC (NYSE:MDT) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,385 shares of the medical technology company’s stock, valued at approximately $214,000.

A number of other institutional investors also recently modified their holdings of MDT. Vanguard Group Inc. increased its position in shares of Medtronic by 0.7% during the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock worth $11,233,780,000 after buying an additional 810,854 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Medtronic by 7.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock valued at $2,001,903,000 after acquiring an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Medtronic by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock worth $1,858,332,000 after acquiring an additional 756,192 shares during the period. Deutsche Bank AG raised its position in shares of Medtronic by 3.1% in the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock worth $1,708,220,000 after acquiring an additional 566,155 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Medtronic by 9.9% in the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after acquiring an additional 1,535,308 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the 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 sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction 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 in the company, valued at approximately $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. Leerink Partnrs raised Medtronic to a “strong-buy” rating in a research note on Monday, June 16th. UBS Group raised their price objective on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. William Blair upgraded shares of Medtronic to a “hold” rating in a research report on Friday, July 11th. Finally, Royal Bank Of Canada cut their target price on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.14.

Medtronic Stock Performance

MDT opened at $94.13 on Friday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The company has a market cap of $120.74 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 2.43 and a beta of 0.77. The company’s fifty day moving average price is $91.39 and its two-hundred day moving average price is $88.26. 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, beating 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 during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the company earned $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. On average, analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic’s 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.