Maple Capital Management Inc. Sells 165 Shares of Medtronic PLC $MDT

Maple Capital Management Inc. lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 5.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,015 shares of the medical technology company’s stock after selling 165 shares during the period. Maple Capital Management Inc.’s holdings in Medtronic were worth $271,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 1248 Management LLC bought a new position in shares of Medtronic during the 1st quarter valued at $26,000. Burkett Financial Services LLC grew its holdings in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares during the last quarter. Columbia River Financial Group LLC bought a new stake in Medtronic in the 1st quarter worth $28,000. Twin Tree Management LP bought a new stake in Medtronic in the 1st quarter worth $29,000. Finally, Activest Wealth Management raised its stake in shares of Medtronic by 3,577.8% during the first 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 during the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MDT shares. Citigroup upped their price objective on shares of Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Leerink Partnrs raised shares of Medtronic to a “strong-buy” rating in a research note on Monday, June 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Argus upped their price objective on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Finally, Sanford C. Bernstein upped their price objective on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.14.

Medtronic Trading Up 2.0%

Shares of MDT opened at $94.13 on Friday. The firm’s 50-day moving average price is $91.39 and its 200-day moving average price is $88.26. The firm has a market capitalization of $120.74 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 2.43 and a beta of 0.77. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The firm 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 for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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

Insider Transactions at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate 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.