Keystone Financial Services Boosts Stock Holdings in Medtronic PLC $MDT

Keystone Financial Services increased its stake in Medtronic PLC (NYSE:MDT) by 15.9% during the 2nd quarter, Holdings Channel reports. The fund owned 8,107 shares of the medical technology company’s stock after purchasing an additional 1,115 shares during the quarter. Keystone Financial Services’ holdings in Medtronic were worth $707,000 as of its most recent SEC filing.

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

Medtronic Stock Performance

Shares of MDT opened at $92.22 on Friday. The company’s 50 day simple moving average is $94.20 and its 200-day simple moving average is $89.96. The firm has a market cap of $118.29 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. 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 (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 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 company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the firm posted $1.23 EPS. Medtronic’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. As a group, equities analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is 78.24%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Truist Financial increased their price objective on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Citigroup raised their target price on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.26% of the company’s stock.

Medtronic Company Profile

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.