Burney Co. Raises Stock Position in Medtronic PLC $MDT

Burney Co. boosted its position in shares of Medtronic PLC (NYSE:MDT) by 10.4% during the second quarter, Holdings Channel.com reports. The firm owned 10,048 shares of the medical technology company’s stock after buying an additional 947 shares during the quarter. Burney Co.’s holdings in Medtronic were worth $876,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. W.G. Shaheen & Associates DBA Whitney & Co raised its stake in shares of Medtronic by 0.4% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 102,142 shares of the medical technology company’s stock valued at $8,904,000 after acquiring an additional 413 shares during the period. Telos Capital Management Inc. raised its stake in shares of Medtronic by 2.3% in the 2nd quarter. Telos Capital Management Inc. now owns 68,019 shares of the medical technology company’s stock valued at $5,929,000 after acquiring an additional 1,497 shares during the period. Sigma Planning Corp raised its stake in shares of Medtronic by 1.8% in the 2nd quarter. Sigma Planning Corp now owns 44,062 shares of the medical technology company’s stock valued at $3,841,000 after acquiring an additional 766 shares during the period. South Dakota Investment Council raised its stake in shares of Medtronic by 5.2% in the 2nd quarter. South Dakota Investment Council now owns 263,553 shares of the medical technology company’s stock valued at $22,974,000 after acquiring an additional 13,100 shares during the period. Finally, Castlekeep Investment Advisors LLC raised its stake in shares of Medtronic by 4.0% in the 2nd quarter. Castlekeep Investment Advisors LLC now owns 14,237 shares of the medical technology company’s stock valued at $1,241,000 after acquiring an additional 549 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.2%

Shares of MDT stock opened at $90.41 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. 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 $115.96 billion, a P/E ratio of 24.91, a price-to-earnings-growth ratio of 2.42 and a beta of 0.78. The company has a 50 day moving average price of $94.27 and a 200 day moving average price of $89.88.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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 net margin of 13.63% and a return on equity of 14.61%. The company 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 firm posted $1.23 EPS. The company’s quarterly 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. Equities research analysts predict 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. Shareholders of record on Friday, September 26th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic’s dividend payout ratio is currently 78.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MDT shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $98.00 price target on shares of Medtronic in a research note on Friday. Truist Financial boosted their price target on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada reissued an “outperform” rating and issued a $111.00 price target on shares of Medtronic in a research note on Friday, October 10th. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Robert W. Baird lifted their price objective on shares of 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 given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Buying and Selling

In other news, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction on Monday, August 25th. The shares were 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 in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred 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 approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.26% of the company’s stock.

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.