Vestmark Advisory Solutions Inc. Acquires 7,321 Shares of Medtronic PLC $MDT

Vestmark Advisory Solutions Inc. raised its holdings in Medtronic PLC (NYSE:MDT) by 83.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,067 shares of the medical technology company’s stock after purchasing an additional 7,321 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Medtronic were worth $1,401,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MDT. Gilbert & Cook Inc. boosted its stake in Medtronic by 1.9% in the second quarter. Gilbert & Cook Inc. now owns 6,103 shares of the medical technology company’s stock valued at $532,000 after buying an additional 114 shares in the last quarter. Red Spruce Capital LLC lifted 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 worth $2,067,000 after acquiring an additional 118 shares during the last quarter. Certior Financial Group LLC boosted its stake in shares of Medtronic by 3.7% in the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after purchasing an additional 122 shares in the last quarter. PrairieView Partners LLC grew its holdings in shares of Medtronic by 3.6% during the 2nd quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock valued at $324,000 after purchasing an additional 128 shares during the last quarter. Finally, Motco increased its position in Medtronic by 27.0% during the 1st quarter. Motco now owns 635 shares of the medical technology company’s stock worth $57,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $111.00 target price on shares of Medtronic in a research report on Friday, October 10th. Argus increased their price target on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a report on Wednesday, October 8th. Robert W. Baird upped their target price on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Finally, Wells Fargo & Company increased their target price on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 8,605 shares of the business’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 transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $92.22 on Monday. The business’s 50 day simple moving average is $94.20 and its 200 day simple moving average is $90.05. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The stock has a market capitalization of $118.29 billion, a PE ratio of 25.41, a PEG ratio of 2.42 and a beta of 0.77. 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 results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts forecast 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. Investors of record on Friday, September 26th were issued a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic’s payout ratio is presently 78.24%.

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.