Advocate Group LLC Purchases 2,525 Shares of Medtronic PLC $MDT

Advocate Group LLC lifted its stake in Medtronic PLC (NYSE:MDT) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,556 shares of the medical technology company’s stock after buying an additional 2,525 shares during the period. Medtronic comprises 1.8% of Advocate Group LLC’s portfolio, making the stock its 16th biggest holding. Advocate Group LLC’s holdings in Medtronic were worth $9,811,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after acquiring an additional 37,265 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Medtronic by 41.1% in the first quarter. GAMMA Investing LLC now owns 15,882 shares of the medical technology company’s stock valued at $1,427,000 after acquiring an additional 4,626 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its stake in shares of Medtronic by 28.5% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 4,014 shares of the medical technology company’s stock valued at $361,000 after acquiring an additional 890 shares during the last quarter. Everhart Financial Group Inc. bought a new position in shares of Medtronic in the first quarter valued at approximately $267,000. Finally, Stanley Laman Group Ltd. raised its stake in shares of Medtronic by 11.4% in the first quarter. Stanley Laman Group Ltd. now owns 3,137 shares of the medical technology company’s stock valued at $282,000 after acquiring an additional 321 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated 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 owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director owned 5,000 shares in the company, valued at $461,850. The trade was 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 corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Daiwa Capital Markets raised their price target on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. Evercore ISI raised their price target on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Argus raised their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. BTIG Research reissued a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Finally, Wells Fargo & Company raised 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. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.41.

Medtronic Price Performance

Shares of NYSE MDT opened at $95.52 on Friday. The firm has a market cap of $122.52 billion, a PE ratio of 26.31, a PEG ratio of 2.51 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. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The company has a fifty day moving average price of $93.56 and a 200 day moving average price of $88.74.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $8.37 billion. During the same period in the previous year, the firm posted $1.23 EPS. 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. Research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced 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 of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio is presently 78.24%.

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.