Medtronic PLC $MDT Shares Acquired by Morningstar Investment Management LLC

Morningstar Investment Management LLC raised its position in shares of Medtronic PLC (NYSE:MDT) by 8.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,762 shares of the medical technology company’s stock after purchasing an additional 1,712 shares during the quarter. Morningstar Investment Management LLC’s holdings in Medtronic were worth $1,984,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Kiker Wealth Management LLC grew its stake in Medtronic by 16.4% during the 2nd quarter. Kiker Wealth Management LLC now owns 7,234 shares of the medical technology company’s stock valued at $631,000 after purchasing an additional 1,021 shares during the last quarter. Harbour Trust & Investment Management Co grew its stake in Medtronic by 13.7% during the 2nd quarter. Harbour Trust & Investment Management Co now owns 4,460 shares of the medical technology company’s stock valued at $389,000 after purchasing an additional 536 shares during the last quarter. Naviter Wealth LLC grew its stake in Medtronic by 1.6% during the 2nd quarter. Naviter Wealth LLC now owns 19,853 shares of the medical technology company’s stock valued at $1,745,000 after purchasing an additional 318 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new stake in Medtronic during the 2nd quarter valued at about $275,000. Finally, NorthRock Partners LLC grew its stake in Medtronic by 16.3% during the 2nd quarter. NorthRock Partners LLC now owns 13,417 shares of the medical technology company’s stock valued at $1,175,000 after purchasing an additional 1,883 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $95.63 on Tuesday. The stock has a market capitalization of $122.66 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.51 and a beta of 0.78. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37. 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 50-day moving average of $93.68 and a 200 day moving average of $88.80.

Medtronic (NYSE:MDT) last announced its 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 business had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Argus boosted their price target on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Robert W. Baird boosted their price objective on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a report on Wednesday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $111.00 price objective on shares of Medtronic in a report on Friday. Finally, Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. One research 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 given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.41.

Insider Buying and Selling

In related news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction that occurred 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 owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

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.