CORDA Investment Management LLC. Increases Stock Position in Medtronic PLC $MDT

CORDA Investment Management LLC. boosted its stake in Medtronic PLC (NYSE:MDT) by 3.8% in the second quarter, Holdings Channel.com reports. The fund owned 261,058 shares of the medical technology company’s stock after buying an additional 9,551 shares during the quarter. CORDA Investment Management LLC.’s holdings in Medtronic were worth $22,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 1248 Management LLC purchased a new stake in shares of Medtronic in the first quarter valued at about $26,000. Columbia River Financial Group LLC purchased a new stake in shares of Medtronic in the first quarter valued at about $28,000. Twin Tree Management LP purchased a new stake in shares of Medtronic in the first quarter valued at about $29,000. Activest Wealth Management raised its holdings in shares of Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in shares of Medtronic in the first quarter valued at about $32,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.6%

Shares of Medtronic stock opened at $95.62 on Monday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The company’s 50-day simple moving average is $94.07 and its 200-day simple moving average is $88.99. The firm has a market cap of $122.65 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the business posted $1.23 earnings per share. The business’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. As a group, equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s dividend payout ratio is presently 78.24%.

Insider Activity

In related news, Director William R. Jellison bought 2,500 shares of the stock in a transaction on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Daiwa Capital Markets upped their target price on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Robert W. Baird upped their target price on shares of Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Citigroup upped their target price on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, Sanford C. Bernstein upped their target price on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

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.