Vontobel Holding Ltd. Boosts Holdings in Medtronic PLC $MDT

Vontobel Holding Ltd. boosted its position in shares of Medtronic PLC (NYSE:MDT) by 0.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 462,711 shares of the medical technology company’s stock after buying an additional 546 shares during the quarter. Vontobel Holding Ltd.’s holdings in Medtronic were worth $40,335,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Maryland State Retirement & Pension System boosted its stake in Medtronic by 3.8% during the second quarter. Maryland State Retirement & Pension System now owns 62,331 shares of the medical technology company’s stock worth $5,433,000 after buying an additional 2,302 shares during the period. Optas LLC boosted its stake in Medtronic by 101.3% during the second quarter. Optas LLC now owns 7,708 shares of the medical technology company’s stock worth $672,000 after buying an additional 3,879 shares during the period. Bar Harbor Wealth Management boosted its stake in Medtronic by 0.6% during the second quarter. Bar Harbor Wealth Management now owns 137,008 shares of the medical technology company’s stock worth $11,943,000 after buying an additional 751 shares during the period. Nelson Capital Management LLC boosted its stake in Medtronic by 0.8% during the second quarter. Nelson Capital Management LLC now owns 39,947 shares of the medical technology company’s stock worth $3,482,000 after buying an additional 313 shares during the period. Finally, REAP Financial Group LLC boosted its stake in Medtronic by 69.8% during the second quarter. REAP Financial Group LLC now owns 769 shares of the medical technology company’s stock worth $67,000 after buying an additional 316 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MDT has been the subject of several recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday. BTIG Research reissued a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Morgan Stanley reissued an “overweight” rating and set a $107.00 target price (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Truist Financial boosted their target price on shares of Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research note on Thursday, August 21st. Finally, Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $101.63.

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Down 0.5%

NYSE:MDT opened at $97.88 on Thursday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The company has a 50-day moving average of $93.31 and a 200 day moving average of $88.65. The firm has a market cap of $125.55 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 2.59 and a beta of 0.78. 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 (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share 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 company had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. The firm’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. As a group, research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. Medtronic’s dividend payout ratio is 78.24%.

Medtronic 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.