Medtronic PLC $MDT Stock Position Raised by Leelyn Smith LLC

Leelyn Smith LLC raised its stake in shares of Medtronic PLC (NYSE:MDT) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,655 shares of the medical technology company’s stock after buying an additional 663 shares during the period. Leelyn Smith LLC’s holdings in Medtronic were worth $2,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MDT. Legacy Advisory Services LLC acquired a new stake in Medtronic during the first quarter worth about $541,000. GC Wealth Management RIA LLC boosted its holdings in 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. Verdence Capital Advisors LLC raised its stake in shares of Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after acquiring an additional 5,296 shares during the last quarter. RNC Capital Management LLC raised its stake in shares of Medtronic by 8.8% in the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock valued at $37,474,000 after acquiring an additional 33,729 shares during the last quarter. Finally, Sivik Global Healthcare LLC raised its stake in shares of Medtronic by 6.7% in the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock valued at $6,974,000 after acquiring an additional 5,000 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 0.5%

Shares of NYSE:MDT opened at $93.76 on Friday. The company’s 50-day moving average price is $94.32 and its two-hundred day moving average price is $89.33. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The stock has a market capitalization of $120.26 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 2.48 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 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 for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the previous year, the firm posted $1.23 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

Insider Activity at Medtronic

In related news, Director William R. Jellison purchased 2,500 shares of the business’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 completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MDT shares. UBS Group lifted their target price on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. BTIG Research restated a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. The Goldman Sachs Group dropped their target price on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research report on Wednesday, October 1st. Morgan Stanley reiterated an “overweight” rating and set a $107.00 target price (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Finally, Stifel Nicolaus upped their target price on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus price target 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.