Leith Wheeler Investment Counsel Ltd. Has $30.13 Million Holdings in Medtronic PLC $MDT

Leith Wheeler Investment Counsel Ltd. lowered its position in shares of Medtronic PLC (NYSE:MDT) by 26.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 376,398 shares of the medical technology company’s stock after selling 138,528 shares during the quarter. Medtronic accounts for about 1.8% of Leith Wheeler Investment Counsel Ltd.’s holdings, making the stock its 18th largest position. Leith Wheeler Investment Counsel Ltd.’s holdings in Medtronic were worth $30,127,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Red Spruce Capital LLC lifted its holdings in Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after purchasing an additional 118 shares during the last quarter. Certior Financial Group LLC lifted 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 valued at $310,000 after purchasing an additional 122 shares during the last quarter. Dunhill Financial LLC lifted 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 valued at $76,000 after purchasing an additional 124 shares during the last quarter. Cidel Asset Management Inc. lifted 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 valued at $856,000 after purchasing an additional 126 shares during the last quarter. Finally, Petros Family Wealth LLC lifted 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 valued at $280,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity at Medtronic

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Leerink Partnrs raised shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Stifel Nicolaus lifted their price target on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a report on Thursday. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Finally, Evercore ISI raised their price objective on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $102.41.

Medtronic Trading Down 1.0%

MDT opened at $95.52 on Monday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $122.52 billion, a PE ratio of 26.31, a PEG ratio of 2.51 and a beta of 0.78. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The firm has a 50-day moving average price of $93.56 and a two-hundred day moving average price of $88.74.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 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 company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the previous year, the company earned $1.23 EPS. Medtronic’s revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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