NorthRock Partners LLC Buys 1,883 Shares of Medtronic PLC $MDT

NorthRock Partners LLC boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 16.3% in the second quarter, Holdings Channel reports. The institutional investor owned 13,417 shares of the medical technology company’s stock after purchasing an additional 1,883 shares during the period. NorthRock Partners LLC’s holdings in Medtronic were worth $1,175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Boston Partners increased its holdings in shares of Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after purchasing an additional 3,809,450 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Medtronic by 28.8% in the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after purchasing an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Medtronic by 42.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after purchasing an additional 3,017,849 shares in the last quarter. Nuveen LLC bought a new stake in shares of Medtronic in the 1st quarter worth $260,649,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Medtronic by 220.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after purchasing an additional 1,660,357 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

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

Medtronic Price Performance

NYSE MDT opened at $95.63 on Tuesday. The company has a market capitalization of $122.66 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The business’s fifty day moving average is $93.68 and its 200 day moving average is $88.80. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders 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 dividend yield of 3.0%. Medtronic’s dividend payout ratio is 78.24%.

Analysts Set New Price Targets

A number of analysts have commented on MDT shares. BTIG Research reissued a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Daiwa Capital Markets raised their price target on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Mizuho raised their price target on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company raised their price target on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.41.

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.