eCIO Inc. Purchases New Holdings in Medtronic PLC $MDT

eCIO Inc. purchased a new position in shares of Medtronic PLC (NYSE:MDT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,385 shares of the medical technology company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MDT. Burkett Financial Services LLC raised its stake in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 185 shares during the period. 1248 Management LLC purchased a new stake in Medtronic during the first quarter worth about $26,000. Wood Tarver Financial Group LLC bought a new stake in Medtronic in the fourth quarter worth about $27,000. Columbia River Financial Group LLC bought a new stake in Medtronic in the first quarter worth about $28,000. Finally, Twin Tree Management LP purchased a new position in Medtronic in the first quarter valued at about $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value 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 trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Medtronic Price Performance

Shares of NYSE MDT opened at $94.13 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The stock has a market cap of $120.74 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 2.43 and a beta of 0.77. The stock has a fifty day moving average of $91.39 and a 200-day moving average of $88.26.

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 analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is 78.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MDT. Argus raised their price target on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Wells Fargo & Company raised their target price on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. William Blair upgraded Medtronic to a “hold” rating in a research note on Friday, July 11th. Sanford C. Bernstein increased their price target on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Finally, Royal Bank Of Canada decreased their price objective on Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.14.

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.