Aviva PLC Purchases 464,364 Shares of Medtronic PLC $MDT

Aviva PLC raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 94.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 957,789 shares of the medical technology company’s stock after acquiring an additional 464,364 shares during the quarter. Aviva PLC owned approximately 0.07% of Medtronic worth $83,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. 1248 Management LLC bought a new position in Medtronic in the first quarter valued at $26,000. Twin Tree Management LP acquired a new position in shares of Medtronic during the 1st quarter worth about $29,000. Activest Wealth Management grew its holdings in shares of Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after acquiring an additional 322 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Medtronic in the first quarter valued at about $32,000. Finally, Investment Management Corp VA ADV increased its position in shares of Medtronic by 144.2% in the first quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock valued at $36,000 after acquiring an additional 238 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MDT shares. UBS Group raised their price target on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Sanford C. Bernstein reissued an “outperform” rating and issued a $98.00 target price on shares of Medtronic in a research note on Friday, October 31st. Citigroup boosted their target price on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Truist Financial increased their price target on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average cost 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. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Trading Up 2.4%

MDT stock opened at $92.22 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The company has a fifty day moving average price of $94.20 and a two-hundred day moving average price of $90.00. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The stock has a market cap of $118.29 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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. The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, September 26th. Medtronic’s 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.