Verdence Capital Advisors LLC Acquires 5,296 Shares of Medtronic PLC $MDT

Verdence Capital Advisors LLC grew its holdings in Medtronic PLC (NYSE:MDT) by 22.0% in the 2nd quarter, Holdings Channel reports. The fund owned 29,396 shares of the medical technology company’s stock after purchasing an additional 5,296 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Medtronic were worth $2,562,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MDT. Red Spruce Capital LLC increased its holdings in Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after purchasing an additional 118 shares in the last quarter. Certior Financial Group LLC increased its holdings in Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after purchasing an additional 122 shares in the last quarter. Dunhill Financial LLC increased its holdings in Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock worth $76,000 after purchasing an additional 124 shares in the last quarter. Cidel Asset Management Inc. increased its holdings in Medtronic by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock worth $856,000 after purchasing an additional 126 shares in the last quarter. Finally, Petros Family Wealth LLC increased its holdings in Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock worth $280,000 after purchasing an additional 127 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Down 1.0%

Shares of NYSE MDT opened at $95.52 on Monday. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. 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 business’s fifty day moving average price is $93.56 and its 200-day moving average price is $88.74. The stock has a market capitalization of $122.52 billion, a PE ratio of 26.31, a P/E/G ratio of 2.51 and a beta of 0.78.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS 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 firm had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’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. On average, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were 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 owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the 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 completion of 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MDT. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 target price (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Leerink Partnrs raised Medtronic to a “strong-buy” rating in a report on Monday, June 16th. The Goldman Sachs Group reduced their target price on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a report on Wednesday, October 1st. Finally, Robert W. Baird upped their target price on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.41.

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.