Northcape Wealth Management LLC Trims Stake in Medtronic PLC $MDT

Northcape Wealth Management LLC decreased its holdings in Medtronic PLC (NYSE:MDT) by 13.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,734 shares of the medical technology company’s stock after selling 3,178 shares during the period. Northcape Wealth Management LLC’s holdings in Medtronic were worth $1,807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of MDT. Bridgewater Advisors Inc. increased its holdings in shares of Medtronic by 6.1% in the 2nd quarter. Bridgewater Advisors Inc. now owns 2,866 shares of the medical technology company’s stock valued at $265,000 after acquiring an additional 165 shares during the period. Bank of New York Mellon Corp grew its position in Medtronic by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after purchasing an additional 595,549 shares during the last quarter. Wellington Shields Capital Management LLC grew its holdings in shares of Medtronic by 57.1% during the second quarter. Wellington Shields Capital Management LLC now owns 550 shares of the medical technology company’s stock valued at $48,000 after buying an additional 200 shares during the last quarter. Seelaus Asset Management LLC grew its stake in Medtronic by 14.8% during the 2nd quarter. Seelaus Asset Management LLC now owns 5,430 shares of the medical technology company’s stock valued at $473,000 after purchasing an additional 700 shares during the last quarter. Finally, Machina Capital S.A.S. boosted its position in Medtronic by 37.8% in the second quarter. Machina Capital S.A.S. now owns 41,888 shares of the medical technology company’s stock valued at $3,651,000 after buying an additional 11,496 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

NYSE:MDT opened at $90.19 on Tuesday. The firm has a market capitalization of $115.68 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 2.42 and a beta of 0.78. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. 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 business’s fifty day moving average price is $94.31 and its 200 day moving average price is $89.82.

Medtronic (NYSE:MDT) last announced its 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 last year, the firm posted $1.23 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were paid 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 3.1%. Medtronic’s dividend payout ratio is presently 78.24%.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent research reports. William Blair upgraded Medtronic to a “hold” rating in a research report on Friday, July 11th. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Morgan Stanley reissued an “overweight” rating and issued a $107.00 price target (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Robert W. Baird lifted their price objective on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Finally, Evercore ISI lifted their target price on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Insider Activity

In related news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were 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. The trade was a 19.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.26% of the company’s stock.

Medtronic Company 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.