Cypress Capital Group Has $392,000 Stake in Medtronic PLC $MDT

Cypress Capital Group boosted its position in Medtronic PLC (NYSE:MDT) by 15.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,501 shares of the medical technology company’s stock after buying an additional 593 shares during the period. Cypress Capital Group’s holdings in Medtronic were worth $392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Red Spruce Capital LLC raised its holdings in shares of Medtronic by 0.5% during the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after purchasing an additional 118 shares during the period. Certior Financial Group LLC raised its holdings in shares of Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after purchasing an additional 122 shares during the period. Dunhill Financial LLC raised its holdings in shares of Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock valued at $76,000 after purchasing an additional 124 shares during the period. Cidel Asset Management Inc. raised its holdings in shares of Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock valued at $856,000 after purchasing an additional 126 shares during the period. Finally, Petros Family Wealth LLC raised its holdings in shares of Medtronic by 4.3% during the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock valued at $280,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. 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 report on Wednesday, August 20th. Truist Financial upped their price objective on shares of Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a report on Thursday, August 21st. UBS Group upped their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Finally, Stifel Nicolaus boosted their target price on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $102.41.

Insider Buying and Selling

In other 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 transaction of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade 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 corporate insiders.

Medtronic Trading Up 0.2%

Shares of MDT stock opened at $95.63 on Tuesday. Medtronic PLC has a 52-week low of $79.29 and a 52-week 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. The company has a 50-day simple moving average of $93.68 and a two-hundred day simple moving average of $88.80. The company has a market capitalization of $122.66 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.51 and a beta of 0.78.

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, topping 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 business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm posted $1.23 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. 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 fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders 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 dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio is currently 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.