Medtronic PLC $MDT Shares Purchased by Cypress Capital LLC

Cypress Capital LLC boosted its position in shares of Medtronic PLC (NYSE:MDT) by 62.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 30,469 shares of the medical technology company’s stock after acquiring an additional 11,684 shares during the period. Medtronic makes up approximately 0.8% of Cypress Capital LLC’s portfolio, making the stock its 24th largest position. Cypress Capital LLC’s holdings in Medtronic were worth $2,656,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MDT. Gilbert & Cook Inc. boosted its position in Medtronic by 1.9% during the second quarter. Gilbert & Cook Inc. now owns 6,103 shares of the medical technology company’s stock worth $532,000 after purchasing an additional 114 shares in the last quarter. Red Spruce Capital LLC raised its stake in shares of Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after buying an additional 118 shares during the period. Certior Financial Group LLC lifted its position in shares of Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after buying an additional 122 shares in the last quarter. PrairieView Partners LLC lifted its position in shares of Medtronic by 3.6% during the 2nd quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock valued at $324,000 after buying an additional 128 shares in the last quarter. Finally, Motco grew its stake in Medtronic by 27.0% in the 1st quarter. Motco now owns 635 shares of the medical technology company’s stock valued at $57,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MDT shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a report on Wednesday, October 8th. Truist Financial upped their price target on shares of Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Citigroup lifted their price objective on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. The Goldman Sachs Group decreased their target price on Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a research report on Wednesday, October 1st. Finally, Argus lifted their price target on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average price 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 approximately $461,850. This trade represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction, the executive vice president 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 SEC filing for this sale provides additional information. Corporate insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $92.22 on Monday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $94.20 and a 200 day moving average price of $90.05. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The stock has a market cap of $118.29 billion, a P/E ratio of 25.41, a PEG ratio of 2.42 and a beta of 0.77.

Medtronic (NYSE:MDT) last posted its 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. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company 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 business posted $1.23 EPS. Medtronic’s revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were issued a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio is currently 78.24%.

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.