XML Financial LLC Acquires 2,146 Shares of Medtronic PLC $MDT

XML Financial LLC increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 16.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,081 shares of the medical technology company’s stock after purchasing an additional 2,146 shares during the period. XML Financial LLC’s holdings in Medtronic were worth $1,315,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. HB Wealth Management LLC boosted its stake in shares of Medtronic by 5.4% during the second quarter. HB Wealth Management LLC now owns 101,269 shares of the medical technology company’s stock valued at $8,828,000 after purchasing an additional 5,192 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in shares of Medtronic by 1.1% during the second quarter. Wolff Wiese Magana LLC now owns 20,372 shares of the medical technology company’s stock valued at $1,776,000 after purchasing an additional 230 shares in the last quarter. GC Wealth Management RIA LLC boosted its stake in shares of 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 valued at $2,926,000 after purchasing an additional 5,734 shares in the last quarter. Albion Financial Group UT boosted its stake in shares of Medtronic by 1.3% during the second quarter. Albion Financial Group UT now owns 69,977 shares of the medical technology company’s stock valued at $6,100,000 after purchasing an additional 913 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in shares of Medtronic by 5.9% during the second quarter. V Square Quantitative Management LLC now owns 12,591 shares of the medical technology company’s stock valued at $1,098,000 after purchasing an additional 701 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MDT shares. William Blair upgraded shares of Medtronic to a “hold” rating in a research note on Friday, July 11th. Truist Financial raised their target price on shares of Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research note on Thursday, August 21st. Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a research note on Monday, June 16th. BTIG Research restated a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Finally, Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $102.27.

Insiders Place Their Bets

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

Medtronic Trading Up 1.3%

Shares of Medtronic stock opened at $95.23 on Wednesday. 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 firm has a fifty day moving average price of $92.73 and a 200 day moving average price of $88.40. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25. The stock has a market cap of $122.15 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 2.47 and a beta of 0.77.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter last year, the company posted $1.23 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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

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.