Medtronic PLC $MDT Shares Purchased by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,485 shares of the medical technology company’s stock after buying an additional 312 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Medtronic were worth $1,001,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MDT. Burkett Financial Services LLC grew its stake in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after buying an additional 185 shares during the period. 1248 Management LLC purchased a new stake in Medtronic during the first quarter worth approximately $26,000. Wood Tarver Financial Group LLC purchased a new stake in Medtronic during the fourth quarter worth approximately $27,000. Columbia River Financial Group LLC purchased a new stake in Medtronic during the first quarter worth approximately $28,000. Finally, Twin Tree Management LP purchased a new stake in Medtronic during the first quarter worth approximately $29,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the subject of several research reports. Citigroup boosted their price objective on shares of Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Leerink Partners assumed coverage on shares of Medtronic in a research note on Monday, June 16th. They issued an “outperform” rating and a $110.00 target price for the company. Argus upped their target price on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Finally, Royal Bank Of Canada decreased their target price on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and an average price target of $102.14.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the company’s 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was bought 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 directly owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

Medtronic Trading Down 0.2%

MDT opened at $94.05 on Friday. The stock has a market capitalization of $120.64 billion, a PE ratio of 25.91, a P/E/G ratio of 2.48 and a beta of 0.77. The firm’s fifty day moving average price is $91.50 and its 200 day moving average price is $88.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic’s dividend payout ratio is currently 78.24%.

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.