Clare Market Investments LLC Makes New Investment in Medtronic PLC $MDT

Clare Market Investments LLC purchased a new position in Medtronic PLC (NYSE:MDT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,599 shares of the medical technology company’s stock, valued at approximately $1,098,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Medtronic by 0.7% in the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock worth $11,233,780,000 after acquiring an additional 810,854 shares during the period. Massachusetts Financial Services Co. MA raised its position in Medtronic by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock worth $2,001,903,000 after acquiring an additional 1,461,841 shares during the period. Bank of New York Mellon Corp raised its position in Medtronic by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock worth $1,858,332,000 after acquiring an additional 756,192 shares during the period. Deutsche Bank AG raised its position in Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock worth $1,708,220,000 after acquiring an additional 566,155 shares during the period. Finally, Invesco Ltd. raised its position in Medtronic by 9.9% in the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after acquiring an additional 1,535,308 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MDT shares. Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a research note on Monday, June 16th. Evercore ISI lifted their target price 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. Argus lifted their target price on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. BTIG Research restated a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Finally, Leerink Partners started coverage on shares of Medtronic in a research note on Monday, June 16th. They set an “outperform” rating and a $110.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.27.

Medtronic Stock Performance

Shares of NYSE MDT opened at $95.60 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. The company has a market cap of $122.62 billion, a P/E ratio of 26.34, a P/E/G ratio of 2.49 and a beta of 0.77. The firm’s fifty day moving average is $91.96 and its two-hundred day moving average is $88.35. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25.

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

Medtronic Announces Dividend

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

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.