Callan Family Office LLC Acquires 20,433 Shares of Medtronic PLC $MDT

Callan Family Office LLC boosted its holdings in shares of Medtronic PLC (NYSE:MDT) by 241.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,883 shares of the medical technology company’s stock after buying an additional 20,433 shares during the quarter. Callan Family Office LLC’s holdings in Medtronic were worth $2,518,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in Medtronic during the first quarter valued at approximately $26,000. Columbia River Financial Group LLC purchased a new position in Medtronic during the first quarter valued at approximately $28,000. Twin Tree Management LP purchased a new position in Medtronic during the first quarter valued at approximately $29,000. Activest Wealth Management lifted its holdings in Medtronic by 3,577.8% during the first 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 during the first quarter valued at approximately $32,000. 82.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction 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 sale, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Evercore ISI lifted 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $107.00 price target (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, Truist Financial lifted their price target on shares of Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $102.41.

Medtronic Price Performance

Medtronic stock opened at $95.52 on Friday. The company has a market cap of $122.52 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.51 and a beta of 0.78. The firm’s fifty day moving average is $93.56 and its 200 day moving average is $88.74. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion for 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%. Medtronic’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts forecast 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 will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. 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.