Donoghue Forlines LLC Increases Stock Holdings in Medtronic PLC $MDT

Donoghue Forlines LLC grew its position in shares of Medtronic PLC (NYSE:MDT) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,731 shares of the medical technology company’s stock after acquiring an additional 826 shares during the quarter. Donoghue Forlines LLC’s holdings in Medtronic were worth $1,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares during the period. Edgestream Partners L.P. purchased a new stake in Medtronic during the first quarter valued at about $325,000. Wealthfront Advisers LLC lifted its holdings in Medtronic by 38.7% during the first quarter. Wealthfront Advisers LLC now owns 86,005 shares of the medical technology company’s stock valued at $7,728,000 after purchasing an additional 24,000 shares during the last quarter. Sage Mountain Advisors LLC bought a new position in Medtronic during the first quarter worth about $266,000. Finally, Bridgewater Advisors Inc. purchased a new position in shares of Medtronic in the first quarter worth about $228,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

MDT opened at $96.12 on Friday. 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 $123.29 billion, a P/E ratio of 26.48, a PEG ratio of 2.42 and a beta of 0.77. The stock has a 50-day moving average price of $94.37 and a 200-day moving average price of $90.26. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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. 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 analysts’ expectations of $8.37 billion. During the same period last year, the firm posted $1.23 EPS. Medtronic’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were purchased at an average price of $92.37 per share, with a total value 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. This trade represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MDT shares. Citigroup lifted their price objective on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $98.00 price target on shares of Medtronic in a research report on Friday, October 31st. Robert W. Baird increased 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. Truist Financial lifted their target price on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. upped their price target on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.06.

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.