Whittier Trust Co. Boosts Position in Medtronic PLC $MDT

Whittier Trust Co. increased its stake in Medtronic PLC (NYSE:MDT) by 21.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,205 shares of the medical technology company’s stock after buying an additional 1,439 shares during the period. Whittier Trust Co.’s holdings in Medtronic were worth $715,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MDT. Brighton Jones LLC grew its holdings in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares in the last quarter. GAMMA Investing LLC grew its holdings in Medtronic by 41.1% during the 1st quarter. GAMMA Investing LLC now owns 15,882 shares of the medical technology company’s stock worth $1,427,000 after acquiring an additional 4,626 shares in the last quarter. Golden State Equity Partners bought a new position in Medtronic during the 1st quarter worth about $561,000. Bessemer Group Inc. grew its holdings in Medtronic by 55.8% during the 1st quarter. Bessemer Group Inc. now owns 1,037,147 shares of the medical technology company’s stock worth $93,199,000 after acquiring an additional 371,539 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in Medtronic by 180.8% during the 1st quarter. Golden State Wealth Management LLC now owns 2,752 shares of the medical technology company’s stock worth $247,000 after acquiring an additional 1,772 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of several recent research reports. Stifel Nicolaus increased their target price on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $111.00 target price on shares of Medtronic in a report on Friday, October 10th. Morgan Stanley reiterated an “overweight” rating and set a $107.00 target price (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Argus increased their target price on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Finally, Wells Fargo & Company raised their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” 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 given a Sell rating to the company. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Stock Down 1.7%

NYSE:MDT opened at $94.25 on Friday. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The stock has a market capitalization of $120.89 billion, a P/E ratio of 25.96, a P/E/G ratio of 2.53 and a beta of 0.78. 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 $94.31 and its 200-day simple moving average is $89.25.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The business 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 company’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

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.