Medtronic PLC $MDT Stock Holdings Increased by SouthState Corp

SouthState Corp increased its stake in shares of Medtronic PLC (NYSE:MDT) by 42.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,896 shares of the medical technology company’s stock after purchasing an additional 561 shares during the quarter. SouthState Corp’s holdings in Medtronic were worth $165,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Andra AP fonden boosted its stake in shares of Medtronic by 94.3% during the 2nd quarter. Andra AP fonden now owns 62,629 shares of the medical technology company’s stock valued at $5,459,000 after buying an additional 30,400 shares during the period. Outfitter Financial LLC increased its stake in shares of Medtronic by 2.6% in the second quarter. Outfitter Financial LLC now owns 13,318 shares of the medical technology company’s stock worth $1,161,000 after acquiring an additional 335 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Medtronic during the second quarter worth $33,146,000. Atlantic Union Bankshares Corp raised its holdings in shares of Medtronic by 60.4% during the second quarter. Atlantic Union Bankshares Corp now owns 17,273 shares of the medical technology company’s stock worth $1,506,000 after acquiring an additional 6,504 shares in the last quarter. Finally, Equity Investment Corp raised its holdings in shares of Medtronic by 2.8% during the second quarter. Equity Investment Corp now owns 1,497,983 shares of the medical technology company’s stock worth $130,579,000 after acquiring an additional 41,012 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction 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 sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.26% of the stock is owned by corporate insiders.

Medtronic Price Performance

Shares of NYSE:MDT opened at $92.22 on Friday. The business has a 50 day moving average price of $94.20 and a 200 day moving average price of $89.96. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37. The company has a market cap of $118.29 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.42 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the business posted $1.23 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on MDT. Daiwa Capital Markets boosted their target price on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Mizuho lifted their price target on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $111.00 price target on shares of Medtronic in a research note on Friday, October 10th. Truist Financial raised their price objective on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Finally, Robert W. Baird lifted their target price on shares of Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

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.