Medtronic PLC $MDT Stake Lessened by Davis R M Inc.

Davis R M Inc. cut its stake in Medtronic PLC (NYSE:MDT) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,127 shares of the medical technology company’s stock after selling 1,130 shares during the period. Davis R M Inc.’s holdings in Medtronic were worth $22,937,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MDT. Boston Partners lifted its position in shares of Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after purchasing an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after buying an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after buying an additional 3,017,849 shares in the last quarter. Nuveen LLC acquired a new stake in Medtronic during the first quarter valued at approximately $260,649,000. Finally, Mackenzie Financial Corp lifted its holdings in Medtronic by 220.9% during the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after buying an additional 1,660,357 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The stock was purchased at an average price 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 of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on MDT. Citigroup upped their price target on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Wells Fargo & Company increased their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $98.00 price target on shares of Medtronic in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Finally, Argus raised 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. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Medtronic Price Performance

Shares of NYSE:MDT opened at $92.22 on Monday. The firm’s 50 day moving average is $94.20 and its two-hundred day moving average is $90.05. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The firm has a market capitalization of $118.29 billion, a P/E ratio of 25.41, a PEG ratio of 2.42 and a beta of 0.77. 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 issued 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 the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were issued a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is 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.