NorthRock Partners LLC Grows Stock Position in Medtronic PLC $MDT

NorthRock Partners LLC boosted its position in Medtronic PLC (NYSE:MDT) by 16.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,417 shares of the medical technology company’s stock after buying an additional 1,883 shares during the quarter. NorthRock Partners LLC’s holdings in Medtronic were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Verdence Capital Advisors LLC grew its position in shares of Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after purchasing an additional 5,296 shares in the last quarter. Endowment Wealth Management Inc. boosted its holdings in shares of Medtronic by 5.5% in the 2nd quarter. Endowment Wealth Management Inc. now owns 2,879 shares of the medical technology company’s stock worth $251,000 after purchasing an additional 149 shares in the last quarter. Westchester Capital Management Inc. lifted its stake in shares of Medtronic by 0.5% in the 2nd quarter. Westchester Capital Management Inc. now owns 98,954 shares of the medical technology company’s stock valued at $8,626,000 after acquiring an additional 500 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Medtronic by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 110,807 shares of the medical technology company’s stock valued at $9,659,000 after acquiring an additional 700 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in Medtronic by 37.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 43,790 shares of the medical technology company’s stock valued at $3,817,000 after acquiring an additional 11,865 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director William R. Jellison bought 2,500 shares of the stock in a transaction dated Monday, August 25th. The stock was bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were 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 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 Trading Up 0.2%

MDT opened at $95.63 on Tuesday. The business has a 50 day simple moving average of $93.68 and a two-hundred day simple moving average of $88.80. The firm has a market capitalization of $122.66 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.51 and a beta of 0.78. 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 PLC has a one year low of $79.29 and a one year high of $99.37.

Medtronic (NYSE:MDT) last released its 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 company had revenue of $8.58 billion during 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 firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Leerink Partnrs upgraded Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Citigroup increased their target price on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Evercore ISI increased their target price on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Sanford C. Bernstein upped their price target on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $102.41.

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.