LRI Investments LLC Raises Stock Position in Medtronic PLC $MDT

LRI Investments LLC lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,197 shares of the medical technology company’s stock after buying an additional 309 shares during the quarter. LRI Investments LLC’s holdings in Medtronic were worth $976,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. 1248 Management LLC acquired a new position in shares of Medtronic in the 1st quarter valued at $26,000. Columbia River Financial Group LLC acquired a new position in shares of Medtronic in the 1st quarter valued at $28,000. Twin Tree Management LP acquired a new position in shares of Medtronic in the 1st quarter valued at $29,000. Activest Wealth Management increased its holdings in shares of 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 acquiring an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in shares of Medtronic in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, for a total transaction 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Medtronic Stock Performance

NYSE:MDT opened at $95.52 on Friday. 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 fifty-two week low of $79.29 and a fifty-two week high of $99.37. The stock 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. The firm’s fifty day simple moving average is $93.56 and its 200-day simple moving average is $88.74.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share 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 for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the prior year, the company posted $1.23 EPS. The business’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. Analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic’s payout ratio is currently 78.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Mizuho lifted their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Daiwa Capital Markets lifted their target price on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. Evercore ISI boosted 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. Finally, BTIG Research reissued a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.