Medtronic PLC $MDT Shares Purchased by CORDA Investment Management LLC.

CORDA Investment Management LLC. raised its position in Medtronic PLC (NYSE:MDT) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 261,058 shares of the medical technology company’s stock after purchasing an additional 9,551 shares during the quarter. CORDA Investment Management LLC.’s holdings in Medtronic were worth $22,756,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Advisory Services LLC purchased a new stake in Medtronic in the first quarter valued at approximately $541,000. GC Wealth Management RIA LLC raised its position in Medtronic by 20.6% in the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after purchasing an additional 5,734 shares during the period. Verdence Capital Advisors LLC raised its position in Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after purchasing an additional 5,296 shares during the period. RNC Capital Management LLC raised its position in Medtronic by 8.8% in the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock valued at $37,474,000 after purchasing an additional 33,729 shares during the period. Finally, Commerce Bank raised its position in Medtronic by 1.7% in the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock valued at $13,118,000 after purchasing an additional 2,429 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In related news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, with a total value 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on 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 sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $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 currently owned by insiders.

Analyst Ratings Changes

MDT has been the subject of several research reports. BTIG Research restated a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Robert W. Baird boosted their price target on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Argus boosted their price target on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. The Goldman Sachs Group dropped their price target on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research note on Wednesday, October 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. One 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Medtronic Price Performance

Medtronic stock opened at $95.62 on Monday. The stock has a market cap of $122.65 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. The company has a fifty day simple moving average of $94.07 and a 200-day simple moving average of $88.99. Medtronic PLC has a 12-month low of $79.29 and a 12-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.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion during 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 company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s payout ratio is 78.24%.

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.