Cypress Capital LLC Buys 11,684 Shares of Medtronic PLC $MDT

Cypress Capital LLC raised its stake in Medtronic PLC (NYSE:MDT) by 62.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,469 shares of the medical technology company’s stock after acquiring an additional 11,684 shares during the period. Medtronic makes up about 0.8% of Cypress Capital LLC’s portfolio, making the stock its 24th biggest holding. Cypress Capital LLC’s holdings in Medtronic were worth $2,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. 1248 Management LLC acquired a new position in shares of Medtronic in the 1st quarter valued at approximately $26,000. Twin Tree Management LP acquired a new stake in Medtronic in the first quarter valued at about $29,000. Activest Wealth Management boosted its stake in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares in the last quarter. Hughes Financial Services LLC bought a new position in Medtronic in the first quarter valued at about $32,000. Finally, Investment Management Corp VA ADV grew its holdings in shares of Medtronic by 144.2% during the 1st quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock valued at $36,000 after purchasing an additional 238 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction that occurred on 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 transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the 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 completion of the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $92.22 on Monday. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The firm has a market cap of $118.29 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.42 and a beta of 0.77. The company’s 50 day moving average is $94.20 and its 200 day moving average is $90.05. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 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 previous year, the company posted $1.23 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic’s dividend payout ratio is presently 78.24%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MDT. Robert W. Baird raised their price objective on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $107.00 target price (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Daiwa Capital Markets upped their price target on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. The Goldman Sachs Group lowered their price objective on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research report on Wednesday, October 1st. Finally, Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.82.

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.