Smithbridge Asset Management Inc. DE Purchases 2,140 Shares of Medtronic PLC $MDT

Smithbridge Asset Management Inc. DE increased its position in shares of Medtronic PLC (NYSE:MDTFree Report) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,418 shares of the medical technology company’s stock after buying an additional 2,140 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Medtronic were worth $5,441,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Legacy Advisory Services LLC bought a new stake in shares of Medtronic during the 1st quarter worth $541,000. GC Wealth Management RIA LLC boosted its holdings in shares of Medtronic by 20.6% during the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after buying an additional 5,734 shares during the period. Verdence Capital Advisors LLC boosted its holdings in shares of Medtronic by 22.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after buying an additional 5,296 shares during the period. RNC Capital Management LLC boosted its holdings in Medtronic by 8.8% in the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock valued at $37,474,000 after purchasing an additional 33,729 shares during the period. Finally, Commerce Bank boosted its holdings in Medtronic by 1.7% in the 1st quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock valued at $13,118,000 after purchasing an additional 2,429 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.4%

Shares of MDT stock opened at $94.98 on Friday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The stock has a market cap of $121.83 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 2.51 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The firm has a fifty day moving average of $94.01 and a 200-day moving average of $88.93.

Medtronic (NYSE:MDTGet Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) 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 analysts’ expectations of $8.37 billion. During the same quarter in the prior year, the company posted $1.23 EPS. The business’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 research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared 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. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. William Blair raised shares of Medtronic to a “hold” rating in a report on Friday, July 11th. Morgan Stanley reissued an “overweight” rating and issued a $107.00 price target (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Wells Fargo & Company increased their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a report on Wednesday, October 8th. Finally, Argus increased their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Check Out Our Latest Stock Analysis on MDT

Insider Activity

In related news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction 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. This trade represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were purchased 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 directly owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.

Medtronic Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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