Securian Asset Management Inc. Has $5.85 Million Stake in Medtronic PLC $MDT

Securian Asset Management Inc. trimmed its position in shares of Medtronic PLC (NYSE:MDTFree Report) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,054 shares of the medical technology company’s stock after selling 808 shares during the period. Securian Asset Management Inc.’s holdings in Medtronic were worth $5,845,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in Medtronic during the first quarter worth $26,000. Columbia River Financial Group LLC acquired a new position in Medtronic during the first quarter worth $28,000. Twin Tree Management LP acquired a new position in Medtronic during the first quarter worth $29,000. Activest Wealth Management increased its holdings in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after buying an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new position in Medtronic during the first quarter worth $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Argus increased their price objective on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Daiwa Capital Markets increased their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Citigroup increased their price objective on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Check Out Our Latest Report on MDT

Medtronic Trading Up 0.2%

MDT stock opened at $95.97 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The company’s 50-day simple moving average is $94.13 and its 200 day simple moving average is $89.08. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The company has a market capitalization of $123.10 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78.

Medtronic (NYSE:MDTGet Free Report) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the company posted $1.23 earnings per share. Medtronic’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. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the 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 sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $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 Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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