Wallington Asset Management LLC Acquires 3,094 Shares of Medtronic PLC $MDT

Wallington Asset Management LLC lifted its holdings in Medtronic PLC (NYSE:MDT) by 1.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 199,946 shares of the medical technology company’s stock after buying an additional 3,094 shares during the quarter. Medtronic comprises 2.5% of Wallington Asset Management LLC’s portfolio, making the stock its 14th biggest holding. Wallington Asset Management LLC’s holdings in Medtronic were worth $17,429,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Red Spruce Capital LLC raised its holdings in shares of Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after buying an additional 118 shares during the last quarter. Certior Financial Group LLC raised its holdings in Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after purchasing an additional 122 shares during the last quarter. Dunhill Financial LLC raised its holdings in Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock worth $76,000 after purchasing an additional 124 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in Medtronic by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock worth $856,000 after purchasing an additional 126 shares during the last quarter. Finally, Petros Family Wealth LLC raised its holdings in Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock worth $280,000 after purchasing an additional 127 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

Shares of MDT stock opened at $97.63 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 stock has a market cap of $125.23 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The stock has a 50-day moving average of $92.94 and a 200-day moving average of $88.50. Medtronic PLC has a one year low of $79.29 and a one year high of $97.94.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.Medtronic’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid 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 dividend yield of 2.9%. Medtronic’s dividend payout ratio is 78.24%.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction that occurred 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 $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on MDT. BTIG Research reissued a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. William Blair raised Medtronic to a “hold” rating in a report on Friday, July 11th. Leerink Partners began coverage on Medtronic in a report on Monday, June 16th. They set an “outperform” rating and a $110.00 price objective for the company. Leerink Partnrs raised Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Finally, Daiwa Capital Markets boosted their price objective on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.27.

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.