Gold Investment Management Ltd. Grows Stake in Medtronic PLC $MDT

Gold Investment Management Ltd. grew its holdings in Medtronic PLC (NYSE:MDT) by 1.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 32,882 shares of the medical technology company’s stock after acquiring an additional 531 shares during the quarter. Gold Investment Management Ltd.’s holdings in Medtronic were worth $2,906,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MDT. Brighton Jones LLC increased its holdings in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Fiduciary Alliance LLC raised its stake in shares of Medtronic by 2.9% during the 1st quarter. Fiduciary Alliance LLC now owns 6,053 shares of the medical technology company’s stock worth $544,000 after buying an additional 169 shares in the last quarter. Merit Financial Group LLC raised its stake in shares of Medtronic by 78.2% during the 1st quarter. Merit Financial Group LLC now owns 41,474 shares of the medical technology company’s stock worth $3,727,000 after buying an additional 18,204 shares in the last quarter. Fulton Bank N.A. increased its stake in Medtronic by 34.2% in the 1st quarter. Fulton Bank N.A. now owns 10,800 shares of the medical technology company’s stock valued at $970,000 after purchasing an additional 2,755 shares in the last quarter. Finally, RFG Advisory LLC increased its stake in Medtronic by 6.1% in the 1st quarter. RFG Advisory LLC now owns 25,974 shares of the medical technology company’s stock valued at $2,334,000 after purchasing an additional 1,482 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.4%

Shares of NYSE MDT opened at $94.85 on Thursday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25. The firm has a market cap of $121.66 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 2.51 and a beta of 0.78. 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 stock’s 50-day simple moving average is $92.78 and its 200-day simple moving average is $88.45.

Medtronic (NYSE:MDT) last announced 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 business 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. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s payout ratio is presently 78.24%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MDT. Wells Fargo & Company raised their price objective on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Argus raised their price objective on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Sanford C. Bernstein raised their price objective on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Leerink Partners began coverage on Medtronic in a research note on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective for the company. Finally, Citigroup raised their price target on Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.27.

Insider Transactions at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

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.