Securian Asset Management Inc. Has $5.85 Million Stake in Medtronic PLC $MDT

Securian Asset Management Inc. trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 1.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 67,054 shares of the medical technology company’s stock after selling 808 shares during the period. Securian Asset Management Inc.’s holdings in Medtronic were worth $5,845,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Phoenix Financial Ltd. boosted its stake in shares of Medtronic by 37.9% in the 2nd quarter. Phoenix Financial Ltd. now owns 71,856 shares of the medical technology company’s stock valued at $6,360,000 after purchasing an additional 19,767 shares in the last quarter. Berkeley Capital Partners LLC boosted its stake in shares of Medtronic by 1.2% in the 2nd quarter. Berkeley Capital Partners LLC now owns 31,618 shares of the medical technology company’s stock valued at $2,756,000 after purchasing an additional 361 shares in the last quarter. Bogart Wealth LLC boosted its stake in shares of Medtronic by 7,604.9% in the 2nd quarter. Bogart Wealth LLC now owns 87,451 shares of the medical technology company’s stock valued at $7,623,000 after purchasing an additional 86,316 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of Medtronic by 42.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 570 shares of the medical technology company’s stock valued at $50,000 after purchasing an additional 170 shares in the last quarter. Finally, CORDA Investment Management LLC. boosted its stake in shares of Medtronic by 3.8% in the 2nd quarter. CORDA Investment Management LLC. now owns 261,058 shares of the medical technology company’s stock valued at $22,756,000 after purchasing an additional 9,551 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDT has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Argus raised their price objective on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a report on Wednesday, October 8th. Truist Financial raised their price objective on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Finally, UBS Group raised their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. One 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.82.

Medtronic Stock Up 0.2%

Medtronic stock opened at $95.97 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The firm has a 50 day moving average price of $94.13 and a two-hundred day moving average price of $89.08. The firm has a market cap of $123.10 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 2.52 and a beta of 0.78.

Medtronic (NYSE:MDT) last released its quarterly 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 analyst estimates of $8.37 billion. During the same quarter last year, the business earned $1.23 EPS. The company’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 analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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

Insider Activity at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s 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 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 position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

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.