Rep. Robert Bresnahan, Jr. Buys Medtronic plc (NYSE:MDT) Shares

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Medtronic plc (NYSE:MDT). In a filing disclosed on May 31st, the Representative disclosed that they had bought between $1,001 and $15,000 in Medtronic stock on May 15th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Zimmer Biomet (NYSE:ZBH) on 5/15/2025.
• Sold $15,001 – $50,000 in shares of Elevance Health (NYSE:ELV) on 5/15/2025.
• Sold $15,001 – $50,000 in shares of PepsiCo (NASDAQ:PEP) on 5/15/2025.
• Sold $1,001 – $15,000 in shares of WEC Energy Group (NYSE:WEC) on 5/15/2025.
• Purchased $15,001 – $50,000 in shares of Advanced Micro Devices (NASDAQ:AMD) on 5/15/2025.
• Purchased $1,001 – $15,000 in shares of Hershey (NYSE:HSY) on 5/15/2025.
• Purchased $1,001 – $15,000 in shares of Kraft Heinz (NASDAQ:KHC) on 5/15/2025.
• Sold $1,001 – $15,000 in shares of Exxon Mobil (NYSE:XOM) on 5/15/2025.
• Sold $1,001 – $15,000 in shares of Danaher (NYSE:DHR) on 5/15/2025.
• Sold $1,001 – $15,000 in shares of International Flavors & Fragrances (NYSE:IFF) on 5/15/2025.

Medtronic Stock Performance

NYSE MDT traded up $0.97 on Tuesday, hitting $84.71. 3,192,825 shares of the stock traded hands, compared to its average volume of 6,800,089. The business’s fifty day moving average is $84.10 and its two-hundred day moving average is $86.17. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The firm has a market capitalization of $108.64 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 2.22 and a beta of 0.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.04. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.46 earnings per share. As a group, equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.35%. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic’s dividend payout ratio is 78.45%.

Institutional Trading of Medtronic

Hedge funds have recently bought and sold shares of the stock. Hodges Capital Management Inc. raised its position in Medtronic by 49.7% in the 1st quarter. Hodges Capital Management Inc. now owns 8,663 shares of the medical technology company’s stock worth $778,000 after purchasing an additional 2,876 shares during the period. Modern Wealth Management LLC boosted its stake in shares of Medtronic by 25.5% during the first quarter. Modern Wealth Management LLC now owns 17,478 shares of the medical technology company’s stock valued at $1,571,000 after purchasing an additional 3,550 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Medtronic by 32.2% during the first quarter. Jones Financial Companies Lllp now owns 690,119 shares of the medical technology company’s stock valued at $60,777,000 after purchasing an additional 168,092 shares in the last quarter. Strs Ohio acquired a new stake in Medtronic in the first quarter valued at approximately $84,067,000. Finally, Ellsworth Advisors LLC acquired a new stake in Medtronic in the first quarter valued at approximately $5,387,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MDT. Truist Financial reduced their target price on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and raised their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reduced their price objective on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.00.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.