Probity Advisors Inc. Raises Stock Holdings in Medtronic PLC $MDT

Probity Advisors Inc. lifted its holdings in Medtronic PLC (NYSE:MDT) by 43.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,804 shares of the medical technology company’s stock after buying an additional 4,179 shares during the quarter. Probity Advisors Inc.’s holdings in Medtronic were worth $1,203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDT. Boston Partners raised its holdings in shares of Medtronic by 122.8% in the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after buying an additional 3,809,450 shares during the period. Ameriprise Financial Inc. increased its holdings in 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 during the period. Price T Rowe Associates Inc. MD increased its holdings in 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 during the period. Nuveen LLC purchased a new position in Medtronic during the 1st quarter worth $260,649,000. Finally, Mackenzie Financial Corp increased its holdings in 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 during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird raised their price objective on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Mizuho raised their price objective on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.82.

Medtronic Stock Up 0.2%

Shares of NYSE MDT opened at $95.97 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $123.10 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. The stock’s fifty day simple moving average is $94.13 and its two-hundred day simple moving average is $89.08. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37.

Medtronic (NYSE:MDT) last announced 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. 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 revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 8,605 shares of the firm’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 owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by company insiders.

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.