Grimes & Company Inc. Increases Holdings in Medtronic PLC $MDT

Grimes & Company Inc. lifted its position in Medtronic PLC (NYSE:MDT) by 1.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 205,825 shares of the medical technology company’s stock after purchasing an additional 2,777 shares during the period. Grimes & Company Inc.’s holdings in Medtronic were worth $17,942,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Three Bridge Wealth Advisors LLC boosted its holdings in shares of Medtronic by 13.3% in the second quarter. Three Bridge Wealth Advisors LLC now owns 21,015 shares of the medical technology company’s stock valued at $1,847,000 after purchasing an additional 2,472 shares during the period. Merit Financial Group LLC raised its stake in Medtronic by 37.5% in the second quarter. Merit Financial Group LLC now owns 57,035 shares of the medical technology company’s stock worth $4,972,000 after buying an additional 15,561 shares in the last quarter. IVC Wealth Advisors LLC raised its stake in Medtronic by 3.9% in the second quarter. IVC Wealth Advisors LLC now owns 5,821 shares of the medical technology company’s stock worth $507,000 after buying an additional 217 shares in the last quarter. Simplicity Wealth LLC raised its stake in Medtronic by 77.5% in the second quarter. Simplicity Wealth LLC now owns 39,097 shares of the medical technology company’s stock worth $3,408,000 after buying an additional 17,070 shares in the last quarter. Finally, Chemung Canal Trust Co. raised its stake in Medtronic by 37.2% in the second quarter. Chemung Canal Trust Co. now owns 65,522 shares of the medical technology company’s stock worth $5,712,000 after buying an additional 17,762 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Jellison purchased 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.

Medtronic Price Performance

NYSE MDT opened at $97.63 on Monday. 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 stock’s fifty day moving average price is $92.94 and its 200 day moving average price is $88.46. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $97.94. The company has a market cap of $125.23 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.57 and a beta of 0.78.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm earned $1.23 EPS. The firm’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, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company 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 $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio is presently 78.24%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MDT. Evercore ISI boosted their price objective on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. The Goldman Sachs Group reduced their price objective on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research note on Wednesday, October 1st. Citigroup boosted their price objective on shares of Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. UBS Group boosted their price objective on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Finally, Sanford C. Bernstein upped their price target on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.94.

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.