Aberdeen Group plc Buys 27,470 Shares of Medtronic PLC $MDT

Aberdeen Group plc lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,602,657 shares of the medical technology company’s stock after purchasing an additional 27,470 shares during the quarter. Aberdeen Group plc’s holdings in Medtronic were worth $225,820,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. JFS Wealth Advisors LLC raised its stake in shares of Medtronic by 12.3% during the 2nd quarter. JFS Wealth Advisors LLC now owns 4,434 shares of the medical technology company’s stock valued at $387,000 after purchasing an additional 486 shares during the period. Strengthening Families & Communities LLC raised its stake in shares of Medtronic by 1.3% during the 2nd quarter. Strengthening Families & Communities LLC now owns 24,518 shares of the medical technology company’s stock valued at $2,145,000 after purchasing an additional 312 shares during the period. Brucke Financial Inc. raised its stake in shares of Medtronic by 14.8% during the 2nd quarter. Brucke Financial Inc. now owns 3,051 shares of the medical technology company’s stock valued at $266,000 after purchasing an additional 394 shares during the period. JB Capital LLC raised its stake in shares of Medtronic by 5.4% during the 2nd quarter. JB Capital LLC now owns 127,463 shares of the medical technology company’s stock valued at $11,111,000 after purchasing an additional 6,515 shares during the period. Finally, Allen Wealth Management LLC raised its stake in shares of Medtronic by 1.7% during the 2nd quarter. Allen Wealth Management LLC now owns 21,663 shares of the medical technology company’s stock valued at $1,888,000 after purchasing an additional 359 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Morgan Stanley restated an “overweight” rating and issued a $107.00 target price (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Citigroup upped their target price on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus upped their target price on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday. One equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and an average price target of $102.41.

Insider Activity

In related news, 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 $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

Medtronic Price Performance

MDT opened at $95.52 on Friday. The stock has a 50-day moving average price of $93.56 and a 200-day moving average price of $88.74. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. 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 stock has a market capitalization of $122.52 billion, a P/E ratio of 26.31, a PEG ratio of 2.54 and a beta of 0.78.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be 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 is Friday, September 26th. 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.