Medtronic PLC $MDT Shares Purchased by NBC Securities Inc.

NBC Securities Inc. boosted its holdings in Medtronic PLC (NYSE:MDT) by 9.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,273 shares of the medical technology company’s stock after acquiring an additional 3,614 shares during the period. NBC Securities Inc.’s holdings in Medtronic were worth $3,684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Burkett Financial Services LLC lifted its holdings in Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares in the last quarter. 1248 Management LLC purchased a new position in Medtronic in the 1st quarter valued at about $26,000. Wood Tarver Financial Group LLC purchased a new position in Medtronic in the 4th quarter valued at about $27,000. Columbia River Financial Group LLC purchased a new position in Medtronic in the 1st quarter valued at about $28,000. Finally, Twin Tree Management LP purchased a new position in Medtronic in the 1st quarter valued at about $29,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Argus upped their target price on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Sanford C. Bernstein upped their target price on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Mizuho increased their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Finally, Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $102.14.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.

Medtronic Trading Down 0.2%

Shares of MDT stock opened at $94.05 on Monday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The firm’s 50-day simple moving average is $91.50 and its 200-day simple moving average is $88.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The firm has a market cap of $120.64 billion, a P/E ratio of 25.91, a PEG ratio of 2.48 and a beta of 0.77.

Medtronic (NYSE:MDT) last posted 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 firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the firm posted $1.23 earnings per share. Medtronic’s revenue for the quarter 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, equities analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

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.