Southland Equity Partners LLC Makes New Investment in Medtronic PLC $MDT

Southland Equity Partners LLC bought a new position in shares of Medtronic PLC (NYSE:MDT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,416 shares of the medical technology company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MDT. Burkett Financial Services LLC increased its position in shares of 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. 1248 Management LLC acquired a new stake in shares of Medtronic in the first quarter valued at approximately $26,000. Wood Tarver Financial Group LLC acquired a new stake in Medtronic during the 4th quarter worth $27,000. Columbia River Financial Group LLC acquired a new stake in Medtronic during the 1st quarter worth approximately $28,000. Finally, Twin Tree Management LP acquired a new stake in shares of Medtronic in the 1st quarter worth $29,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on MDT. William Blair raised Medtronic to a “hold” rating in a report on Friday, July 11th. Morgan Stanley reissued an “overweight” rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Citigroup upped their target price on Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Mizuho upped their price objective on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company raised their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $102.27.

Medtronic Stock Down 0.7%

Shares of MDT stock opened at $94.91 on Monday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25. 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 business’s fifty day moving average is $92.05 and its 200-day moving average is $88.29. The stock has a market cap of $121.74 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.50 and a beta of 0.77.

Medtronic (NYSE:MDT) last released its earnings results 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 firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the company earned $1.23 earnings per share. Medtronic’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. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

Insider Transactions at Medtronic

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

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.