Panagora Asset Management Inc. Acquires 29,884 Shares of Medtronic PLC $MDT

Panagora Asset Management Inc. increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.9% during the first quarter, HoldingsChannel.com reports. The fund owned 1,045,171 shares of the medical technology company’s stock after buying an additional 29,884 shares during the quarter. Panagora Asset Management Inc.’s holdings in Medtronic were worth $93,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Burkett Financial Services LLC lifted its holdings in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 185 shares during the period. Wood Tarver Financial Group LLC bought a new stake in Medtronic during the fourth quarter worth $27,000. Columbia River Financial Group LLC bought a new stake in Medtronic during the first quarter worth $28,000. Activest Wealth Management raised its stake in shares of Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the period. Finally, Hughes Financial Services LLC bought a new stake in shares of Medtronic in the first quarter valued at $32,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by insiders.

Medtronic Price Performance

Shares of NYSE MDT opened at $92.72 on Friday. The stock has a market cap of $118.93 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 2.34 and a beta of 0.80. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 2.01. The stock has a fifty day moving average of $90.31 and a 200-day moving average of $88.08.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. The company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic’s payout ratio is presently 78.24%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BTIG Research restated a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Leerink Partners assumed coverage on Medtronic in a research note on Monday, June 16th. They issued an “outperform” rating and a $110.00 target price on the stock. Leerink Partnrs upgraded Medtronic to a “strong-buy” rating in a research note on Monday, June 16th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Royal Bank Of Canada lowered their target price on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $102.14.

Medtronic 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.