Medtronic PLC $MDT Stake Increased by XML Financial LLC

XML Financial LLC increased its stake in Medtronic PLC (NYSE:MDT) by 16.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,081 shares of the medical technology company’s stock after buying an additional 2,146 shares during the period. XML Financial LLC’s holdings in Medtronic were worth $1,315,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Red Spruce Capital LLC increased its stake in shares of Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after buying an additional 118 shares during the last quarter. Certior Financial Group LLC increased its stake in shares of Medtronic by 3.7% in the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after buying an additional 122 shares during the last quarter. Dunhill Financial LLC boosted its holdings in Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock worth $76,000 after purchasing an additional 124 shares during the period. Cidel Asset Management Inc. boosted its holdings in Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock worth $856,000 after purchasing an additional 126 shares during the period. Finally, Petros Family Wealth LLC boosted its holdings in Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock worth $280,000 after purchasing an additional 127 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $95.23 on Wednesday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $122.15 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 2.47 and a beta of 0.77. The firm has a 50-day moving average of $92.73 and a two-hundred day moving average of $88.40.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. 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 prior year, the company earned $1.23 EPS. Medtronic’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, analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

MDT has been the subject of a number of research reports. Argus lifted their price objective on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Truist Financial lifted their price objective on shares of Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a report on Thursday, August 21st. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.27.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction 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 acquisition, the director owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is currently 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.