ELCO Management Co. LLC Has $255,000 Stock Position in Medtronic PLC $MDT

ELCO Management Co. LLC lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 20.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,929 shares of the medical technology company’s stock after selling 735 shares during the period. ELCO Management Co. LLC’s holdings in Medtronic were worth $255,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. The Goldman Sachs Group reduced their price objective on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research note on Wednesday, October 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $111.00 price objective on shares of Medtronic in a research note on Friday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. UBS Group raised their target price on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Finally, Morgan Stanley restated an “overweight” rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Insiders Place Their Bets

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Down 0.8%

MDT stock opened at $93.33 on Wednesday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37. 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 stock’s 50 day moving average is $94.42 and its 200-day moving average is $89.55. The firm has a market capitalization of $119.72 billion, a PE ratio of 25.71, a P/E/G ratio of 2.48 and a beta of 0.78.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The company 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 company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

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.