FNY Investment Advisers LLC Acquires Shares of 4,300 Medtronic PLC $MDT

FNY Investment Advisers LLC acquired a new stake in shares of Medtronic PLC (NYSE:MDT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,300 shares of the medical technology company’s stock, valued at approximately $374,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Red Spruce Capital LLC boosted its holdings in shares of Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after acquiring an additional 118 shares during the last quarter. Certior Financial Group LLC boosted its holdings in shares of Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after acquiring an additional 122 shares during the last quarter. Cidel Asset Management Inc. boosted its holdings in shares of Medtronic by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock valued at $856,000 after acquiring an additional 126 shares during the last quarter. PrairieView Partners LLC boosted its holdings in shares of Medtronic by 3.6% during the 2nd quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock valued at $324,000 after acquiring an additional 128 shares during the last quarter. Finally, Motco boosted its holdings in shares of Medtronic by 27.0% during the 1st quarter. Motco now owns 635 shares of the medical technology company’s stock valued at $57,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. The Goldman Sachs Group dropped their price target on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a report on Wednesday, October 1st. Evercore ISI raised their price objective on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Citigroup raised their price objective on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Robert W. Baird raised their price objective on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. One research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Stock Performance

MDT opened at $95.84 on Thursday. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The company has a market cap of $122.93 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.52 and a beta of 0.78. The company’s 50 day moving average is $94.26 and its 200 day moving average is $89.17. 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 released 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 company had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter last year, the business earned $1.23 EPS. The firm’s 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. On average, equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s 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 sale, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director owned 5,000 shares in the company, valued at $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 currently owned by company insiders.

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.