Fiduciary Financial Group LLC Increases Stock Position in Medtronic PLC $MDT

Fiduciary Financial Group LLC raised its position in shares of Medtronic PLC (NYSE:MDT) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,311 shares of the medical technology company’s stock after buying an additional 361 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Medtronic were worth $560,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Crumly & Associates Inc. raised its position in shares of Medtronic by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 7,063 shares of the medical technology company’s stock worth $616,000 after purchasing an additional 218 shares during the last quarter. Harbor Investment Advisory LLC raised its position in shares of Medtronic by 2.8% in the 2nd quarter. Harbor Investment Advisory LLC now owns 11,485 shares of the medical technology company’s stock worth $1,001,000 after purchasing an additional 312 shares during the last quarter. Kera Capital Partners Inc. purchased a new position in shares of Medtronic in the 2nd quarter worth about $298,000. Rowlandmiller & PARTNERS.ADV raised its position in shares of Medtronic by 8.1% in the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 17,121 shares of the medical technology company’s stock worth $1,492,000 after purchasing an additional 1,285 shares during the last quarter. Finally, Cullen Investment Group LTD. raised its position in shares of Medtronic by 7.2% in the 2nd quarter. Cullen Investment Group LTD. now owns 85,921 shares of the medical technology company’s stock worth $7,490,000 after purchasing an additional 5,802 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MDT shares. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Mizuho lifted their price objective on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Truist Financial boosted their price target on Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research note on Thursday, August 21st. William Blair upgraded Medtronic to a “hold” rating in a research note on Friday, July 11th. Finally, Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $102.14.

Medtronic Trading Down 0.2%

Shares of NYSE:MDT opened at $94.05 on Friday. The stock has a 50 day moving average of $91.50 and a 200 day moving average of $88.28. The company has a market cap of $120.64 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 2.48 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 PLC has a 12-month low of $79.29 and a 12-month high of $96.25.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the company posted $1.23 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued 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 is Friday, September 26th. Medtronic’s dividend payout ratio is 78.24%.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company’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 directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, 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. 0.26% of the stock is owned by corporate insiders.

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.