Perigon Wealth Management LLC Increases Holdings in Medtronic PLC $MDT

Perigon Wealth Management LLC lifted its position in Medtronic PLC (NYSE:MDT) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,831 shares of the medical technology company’s stock after purchasing an additional 1,096 shares during the quarter. Perigon Wealth Management LLC’s holdings in Medtronic were worth $1,293,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Medtronic by 0.7% in the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock worth $11,233,780,000 after purchasing an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Medtronic by 7.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock worth $2,001,903,000 after acquiring an additional 1,461,841 shares during the period. Bank of New York Mellon Corp grew its holdings in Medtronic by 3.8% during the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock worth $1,858,332,000 after acquiring an additional 756,192 shares during the period. Deutsche Bank AG grew its holdings in Medtronic by 3.1% during the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock worth $1,708,220,000 after acquiring an additional 566,155 shares during the period. Finally, Invesco Ltd. grew its holdings in Medtronic by 9.9% during the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after acquiring an additional 1,535,308 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. This 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 Stock Performance

Shares of NYSE: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’s 50 day moving average price is $92.57 and its 200-day moving average price is $88.38. The firm has a market capitalization of $121.01 billion, a PE ratio of 25.99, a P/E/G ratio of 2.48 and a beta of 0.77. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates 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 company posted $1.23 earnings per share. 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 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

Analyst Ratings Changes

Several research firms recently commented on MDT. William Blair raised Medtronic to a “hold” rating in a report on Friday, July 11th. UBS Group raised their target price on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Leerink Partnrs raised Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Mizuho raised their target price on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.27.

Medtronic 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.