Dakota Wealth Management Has $6.52 Million Stake in Medtronic PLC $MDT

Dakota Wealth Management grew its position in shares of Medtronic PLC (NYSE:MDT) by 4.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 74,819 shares of the medical technology company’s stock after buying an additional 3,514 shares during the quarter. Dakota Wealth Management’s holdings in Medtronic were worth $6,522,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Legacy Advisory Services LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $541,000. RNC Capital Management LLC increased its holdings in Medtronic by 8.8% in the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after buying an additional 33,729 shares in the last quarter. Commerce Bank raised its stake in shares of Medtronic by 1.7% in the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock worth $13,118,000 after buying an additional 2,429 shares during the period. Brighton Jones LLC grew its position in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Finally, Cullen Investment Group LTD. raised its stake in shares of Medtronic by 7.2% in the second quarter. Cullen Investment Group LTD. now owns 85,921 shares of the medical technology company’s stock valued at $7,490,000 after acquiring an additional 5,802 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $94.26 on Friday. The stock has a market capitalization of $120.91 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 2.52 and a beta of 0.77. The stock has a fifty day moving average of $92.48 and a 200-day moving average of $88.39. 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 52 week low of $79.29 and a 52 week high of $96.25.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating 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 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 company posted $1.23 earnings per share. Medtronic’s quarterly revenue 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, sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MDT. William Blair raised shares of Medtronic to a “hold” rating in a research note on Friday, July 11th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Leerink Partners started coverage on Medtronic in a research note on Monday, June 16th. They issued an “outperform” rating and a $110.00 target price for the company. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Finally, BTIG Research reissued a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and an average price target of $102.27.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the 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 in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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.