Fort Washington Investment Advisors Inc. OH Sells 80,664 Shares of Medtronic PLC $MDT

Fort Washington Investment Advisors Inc. OH decreased its stake in Medtronic PLC (NYSE:MDT) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,597,579 shares of the medical technology company’s stock after selling 80,664 shares during the period. Medtronic comprises about 1.3% of Fort Washington Investment Advisors Inc. OH’s holdings, making the stock its 17th largest holding. Fort Washington Investment Advisors Inc. OH owned about 0.20% of Medtronic worth $226,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Red Spruce Capital LLC raised its holdings in shares of Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after acquiring an additional 118 shares in the last quarter. Certior Financial Group LLC grew its stake in shares of Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after acquiring an additional 122 shares during the last quarter. Dunhill Financial LLC grew its stake in shares of Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock worth $76,000 after acquiring an additional 124 shares during the last quarter. Cidel Asset Management Inc. grew its stake in shares of Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock worth $856,000 after acquiring an additional 126 shares during the last quarter. Finally, Petros Family Wealth LLC boosted its position in Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock valued at $280,000 after buying an additional 127 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Leerink Partnrs upgraded Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. Truist Financial boosted their price target on Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a report on Thursday, August 21st. Citigroup boosted their price target on Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Evercore ISI boosted their price target on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their price target on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.27.

Medtronic Stock Up 0.0%

Shares of MDT opened at $94.34 on Friday. 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 one year low of $79.29 and a one year high of $96.25. The stock has a market capitalization of $121.01 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 2.48 and a beta of 0.77. The stock has a 50 day moving average price of $92.57 and a 200 day moving average price of $88.38.

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 return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The firm’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. Equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Insider Buying and Selling at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, 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 transaction 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 the company’s stock in a transaction 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. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

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.