LRI Investments LLC Grows Holdings in Medtronic PLC $MDT

LRI Investments LLC raised its position in Medtronic PLC (NYSE:MDT) by 2.8% during the second quarter, Holdings Channel.com reports. The firm owned 11,197 shares of the medical technology company’s stock after buying an additional 309 shares during the period. LRI Investments LLC’s holdings in Medtronic were worth $976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in Medtronic in the 1st quarter valued at about $26,000. Columbia River Financial Group LLC purchased a new position in Medtronic in the 1st quarter valued at about $28,000. Twin Tree Management LP purchased a new position in Medtronic in the 1st quarter valued at about $29,000. Activest Wealth Management lifted its holdings in Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in Medtronic in the 1st quarter valued at about $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Down 1.0%

MDT opened at $95.52 on Friday. The firm has a 50 day moving average price of $93.56 and a 200 day moving average price of $88.74. The company has a market cap of $122.52 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01.

Medtronic (NYSE:MDT) last posted its earnings results 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. The firm had revenue of $8.58 billion during 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 company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm 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. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio is 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 completion of the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on MDT shares. Stifel Nicolaus upped their price objective on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday. Evercore ISI upped their price objective on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Daiwa Capital Markets upped their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Sanford C. Bernstein upped their price objective on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.41.

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.