Fort Washington Investment Advisors Inc. OH Lowers Position in Medtronic PLC $MDT

Fort Washington Investment Advisors Inc. OH decreased its position in shares of Medtronic PLC (NYSE:MDT) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,597,579 shares of the medical technology company’s stock after selling 80,664 shares during the period. Medtronic comprises 1.3% of Fort Washington Investment Advisors Inc. OH’s investment portfolio, making the stock its 17th biggest position. Fort Washington Investment Advisors Inc. OH’s holdings in Medtronic were worth $226,431,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MDT. 1248 Management LLC acquired a new stake in Medtronic in the 1st quarter valued at about $26,000. Burkett Financial Services LLC raised its position 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. Columbia River Financial Group LLC acquired a new stake in Medtronic in the 1st quarter valued at about $28,000. Twin Tree Management LP acquired a new stake in shares of Medtronic during the 1st quarter worth about $29,000. Finally, Activest Wealth Management raised its position in shares of Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 322 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MDT. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Mizuho raised their price target on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Leerink Partners initiated coverage on Medtronic in a research note on Monday, June 16th. They set an “outperform” rating and a $110.00 price target on the stock. Evercore ISI lifted their target price on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Finally, Daiwa Capital Markets lifted their target price on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.27.

Medtronic Stock Up 0.0%

MDT opened at $94.34 on Friday. 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 business has a 50 day simple moving average of $92.57 and a 200-day simple moving average of $88.38. The stock has a market capitalization of $121.01 billion, a P/E ratio of 25.99, a P/E/G ratio of 2.48 and a beta of 0.77. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25.

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 firm had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.Medtronic’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. On average, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic’s payout ratio is currently 78.24%.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.

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.