Accel Wealth Management Makes New Investment in Medtronic PLC $MDT

Accel Wealth Management acquired a new position in Medtronic PLC (NYSE:MDT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,570 shares of the medical technology company’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. Brighton Jones LLC grew its holdings in Medtronic by 1,368.0% in the fourth 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 period. Hennion & Walsh Asset Management Inc. grew its holdings in Medtronic by 128.6% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 8,013 shares of the medical technology company’s stock worth $720,000 after purchasing an additional 4,507 shares during the period. Gateway Investment Advisers LLC grew its holdings in Medtronic by 0.6% in the first quarter. Gateway Investment Advisers LLC now owns 101,408 shares of the medical technology company’s stock worth $9,112,000 after purchasing an additional 608 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Medtronic by 13.4% during the first quarter. Sivia Capital Partners LLC now owns 3,975 shares of the medical technology company’s stock valued at $357,000 after buying an additional 471 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Medtronic by 479.0% during the first quarter. UMB Bank n.a. now owns 74,076 shares of the medical technology company’s stock valued at $6,656,000 after buying an additional 61,283 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 2.3%

Shares of Medtronic stock opened at $97.63 on Monday. The company has a market cap of $125.23 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.57 and a beta of 0.78. The company’s 50 day moving average is $92.94 and its 200 day moving average is $88.46. Medtronic PLC has a twelve month low of $79.29 and a twelve month 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 issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Insider Activity at Medtronic

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MDT shares. Sanford C. Bernstein increased their price target on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Citigroup increased their price target on shares of Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a report on Saturday, September 27th. Finally, Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.94.

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.