iSAM Funds UK Ltd Invests $2.70 Million in Medtronic PLC $MDT

iSAM Funds UK Ltd bought a new position in shares of Medtronic PLC (NYSE:MDT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 31,019 shares of the medical technology company’s stock, valued at approximately $2,704,000. Medtronic accounts for approximately 0.6% of iSAM Funds UK Ltd’s portfolio, making the stock its 27th largest holding.

A number of other large investors also recently bought and sold shares of MDT. AXQ Capital LP increased its stake in shares of Medtronic by 25.6% in the 2nd quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock valued at $862,000 after purchasing an additional 2,013 shares in the last quarter. Legacy Advisory Services LLC purchased a new position in Medtronic during the first quarter worth approximately $541,000. GC Wealth Management RIA LLC boosted its position in Medtronic by 20.6% during the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after purchasing an additional 5,734 shares in the last quarter. Merit Financial Group LLC grew its holdings in Medtronic by 37.5% in the second quarter. Merit Financial Group LLC now owns 57,035 shares of the medical technology company’s stock valued at $4,972,000 after purchasing an additional 15,561 shares during the period. Finally, Verdence Capital Advisors LLC increased its position in shares of Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after buying an additional 5,296 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup upped their price target on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Barclays lifted their price objective on Medtronic from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Finally, Morgan Stanley increased their target price on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.44.

Medtronic Stock Down 0.2%

Shares of NYSE MDT opened at $101.17 on Tuesday. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The firm has a market cap of $129.70 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 2.67 and a beta of 0.71. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $106.33. The business’s 50 day moving average is $96.94 and its two-hundred day moving average is $92.42.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.Medtronic’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the business posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, December 26th. Medtronic’s dividend payout ratio is 76.55%.

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.