Harbour Trust & Investment Management Co Acquires 536 Shares of Medtronic PLC $MDT

Harbour Trust & Investment Management Co boosted its holdings in Medtronic PLC (NYSE:MDT) by 13.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,460 shares of the medical technology company’s stock after acquiring an additional 536 shares during the period. Harbour Trust & Investment Management Co’s holdings in Medtronic were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Boston Partners grew its holdings in shares of Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after purchasing an additional 3,809,450 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after purchasing an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Medtronic by 42.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after purchasing an additional 3,017,849 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Medtronic during the 1st quarter worth $260,649,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Medtronic by 220.9% during the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after purchasing an additional 1,660,357 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.2%

Shares of MDT stock opened at $95.63 on Tuesday. The company has a market cap of $122.66 billion, a P/E ratio of 26.34, a PEG ratio of 2.51 and a beta of 0.78. The stock has a 50 day simple moving average of $93.68 and a two-hundred day simple moving average of $88.80. 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 fifty-two week low of $79.29 and a fifty-two week high of $99.37.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents 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.

Analyst Upgrades and Downgrades

MDT has been the topic of several analyst reports. The Goldman Sachs Group reduced their target price on Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a report on Wednesday, October 1st. Robert W. Baird raised their price objective on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Mizuho raised their price objective on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 price objective (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $102.41.

Medtronic 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.