Janney Capital Management LLC Trims Holdings in Medtronic PLC $MDT

Janney Capital Management LLC trimmed its position in Medtronic PLC (NYSE:MDT) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 178,801 shares of the medical technology company’s stock after selling 2,292 shares during the quarter. Medtronic comprises 1.0% of Janney Capital Management LLC’s holdings, making the stock its 24th largest position. Janney Capital Management LLC’s holdings in Medtronic were worth $15,586,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Wolff Wiese Magana LLC raised its stake in shares of Medtronic by 1.1% in the second quarter. Wolff Wiese Magana LLC now owns 20,372 shares of the medical technology company’s stock worth $1,776,000 after purchasing an additional 230 shares during the last quarter. GC Wealth Management RIA LLC raised its position in Medtronic by 20.6% during the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after acquiring an additional 5,734 shares in the last quarter. Albion Financial Group UT raised its position in Medtronic by 1.3% during the second quarter. Albion Financial Group UT now owns 69,977 shares of the medical technology company’s stock valued at $6,100,000 after acquiring an additional 913 shares in the last quarter. V Square Quantitative Management LLC boosted its position in Medtronic by 5.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 12,591 shares of the medical technology company’s stock worth $1,098,000 after purchasing an additional 701 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its position in Medtronic by 14.7% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 43,993 shares of the medical technology company’s stock worth $3,835,000 after purchasing an additional 5,629 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on MDT. William Blair upgraded Medtronic to a “hold” rating in a research report on Friday, July 11th. Morgan Stanley restated an “overweight” rating and issued a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Robert W. Baird upped their price objective on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Leerink Partners began coverage on Medtronic in a research report on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.27.

Medtronic Stock Down 0.2%

Medtronic stock opened at $94.00 on Tuesday. The stock has a market capitalization of $120.57 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The business has a 50 day simple moving average of $92.66 and a 200-day simple moving average of $88.36. 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 issued its quarterly 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. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates 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 company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared 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 payout ratio is currently 78.24%.

Insider Buying and Selling

In other news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction dated 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 purchase, the director directly 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction that occurred on 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 sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.