Hardman Johnston Global Advisors LLC Lowers Stock Position in Medtronic PLC $MDT

Hardman Johnston Global Advisors LLC trimmed its holdings in Medtronic PLC (NYSE:MDT) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,543 shares of the medical technology company’s stock after selling 125 shares during the quarter. Hardman Johnston Global Advisors LLC’s holdings in Medtronic were worth $16,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of MDT. Burkett Financial Services LLC raised its stake in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after buying an additional 185 shares during the last quarter. 1248 Management LLC bought a new position in shares of Medtronic during the first quarter valued at $26,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic during the first quarter valued at $28,000. Twin Tree Management LP bought a new position in shares of Medtronic during the first quarter valued at $29,000. Finally, Activest Wealth Management grew its position in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

MDT stock opened at $95.57 on Friday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25. The stock’s fifty day moving average price is $92.85 and its 200-day moving average price is $88.46. 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 company has a market cap of $122.59 billion, a P/E ratio of 26.33, a price-to-earnings-growth ratio of 2.50 and a beta of 0.78.

Medtronic (NYSE:MDT) last posted its 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 return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the company earned $1.23 earnings per share. 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. On average, equities analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced 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. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic’s payout ratio is 78.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Argus upped their target price on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Morgan Stanley reissued an “overweight” rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. BTIG Research reissued a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Finally, Sanford C. Bernstein increased their price objective on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.27.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction 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 $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.