Northcape Wealth Management LLC Sells 3,178 Shares of Medtronic PLC $MDT

Northcape Wealth Management LLC lowered its position in Medtronic PLC (NYSE:MDT) by 13.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,734 shares of the medical technology company’s stock after selling 3,178 shares during the quarter. Northcape Wealth Management LLC’s holdings in Medtronic were worth $1,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners lifted 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 buying an additional 3,809,450 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Medtronic by 28.8% during 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 in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Medtronic by 42.9% during 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 in the last quarter. Nuveen LLC purchased a new position in shares of Medtronic during the first quarter valued at approximately $260,649,000. Finally, Mackenzie Financial Corp boosted its position in shares of Medtronic by 220.9% during 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 buying an additional 1,660,357 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 0.6%

NYSE MDT opened at $90.19 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The stock has a market capitalization of $115.68 billion, a PE ratio of 24.84, a PEG ratio of 2.42 and a beta of 0.78. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The business’s 50-day moving average is $94.31 and its 200 day moving average is $89.82.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic’s payout ratio is currently 78.24%.

Analysts Set New Price Targets

A number of brokerages recently commented on MDT. Mizuho lifted their price target on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. UBS Group raised their target price on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 price target (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Wells Fargo & Company raised their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. One equities research 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 company. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Insiders Place Their Bets

In related news, 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 transaction of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Jellison bought 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.26% of the stock is currently owned by 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.