Martin Investment Management LLC Raises Holdings in Medtronic PLC $MDT

Martin Investment Management LLC raised its stake in Medtronic PLC (NYSE:MDT) by 18.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,563 shares of the medical technology company’s stock after purchasing an additional 860 shares during the period. Martin Investment Management LLC’s holdings in Medtronic were worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Legacy Advisory Services LLC acquired a new stake in shares of Medtronic in the first quarter valued at about $541,000. GC Wealth Management RIA LLC lifted its stake in Medtronic by 20.6% in the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after buying an additional 5,734 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in Medtronic by 22.0% in the 2nd quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after buying an additional 5,296 shares in the last quarter. World Investment Advisors boosted its holdings in Medtronic by 1.9% in the 2nd quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock worth $13,608,000 after buying an additional 2,868 shares during the last quarter. Finally, Sivik Global Healthcare LLC increased its stake in Medtronic by 6.7% during the 2nd quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock worth $6,974,000 after buying an additional 5,000 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

NYSE MDT opened at $92.22 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. The stock’s fifty day moving average is $94.20 and its two-hundred day moving average is $90.00. The firm has a market capitalization of $118.29 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37.

Medtronic (NYSE:MDT) last issued 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 return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the company earned $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, research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders 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 dividend on an annualized basis and a yield of 3.1%. Medtronic’s payout ratio is 78.24%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley restated an “overweight” rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Argus upped their target price on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $111.00 target price on shares of Medtronic in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Insider Activity

In other news, EVP Harry Skip Kiil sold 8,605 shares of the firm’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 transaction of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the firm’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 acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.26% of the company’s stock.

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.