WestEnd Advisors LLC Raises Holdings in Medtronic PLC $MDT

WestEnd Advisors LLC raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 473,307 shares of the medical technology company’s stock after purchasing an additional 9,796 shares during the period. Medtronic makes up about 1.0% of WestEnd Advisors LLC’s investment portfolio, making the stock its 29th largest holding. WestEnd Advisors LLC’s holdings in Medtronic were worth $41,258,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC bought a new position in shares of Medtronic during the 1st quarter valued at $26,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic during the 1st quarter valued at $28,000. Twin Tree Management LP bought a new position in shares of Medtronic during the 1st quarter valued at $29,000. Activest Wealth Management lifted its holdings in shares of Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the period. Finally, Hughes Financial Services LLC bought a new position in shares of Medtronic during the 1st quarter valued at $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MDT. Sanford C. Bernstein increased their price target on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Truist Financial raised their target price on Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a report on Thursday, August 21st. Mizuho raised their target price on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Daiwa Capital Markets raised their target price on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, William Blair raised Medtronic to a “hold” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.63.

Medtronic Price Performance

NYSE:MDT opened at $98.44 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The business’s 50-day simple moving average is $93.19 and its two-hundred day simple moving average is $88.59. The stock has a market cap of $126.27 billion, a PE ratio of 27.12, a P/E/G ratio of 2.59 and a beta of 0.78. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37.

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

Medtronic Dividend Announcement

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 given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Insider Transactions at Medtronic

In other news, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares of the company’s stock, 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. Company insiders own 0.26% of the company’s stock.

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.