Hoese & Co LLP Boosts Stake in Medtronic PLC $MDT

Hoese & Co LLP grew its stake in Medtronic PLC (NYSE:MDT) by 140.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,384 shares of the medical technology company’s stock after buying an additional 1,393 shares during the period. Hoese & Co LLP’s holdings in Medtronic were worth $208,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MDT. Boston Partners raised its holdings in shares of Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after purchasing an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Medtronic by 28.8% during the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after purchasing an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after purchasing an additional 3,017,849 shares during the last quarter. Nuveen LLC purchased a new position in shares of Medtronic during the first quarter worth $260,649,000. Finally, Mackenzie Financial Corp raised its holdings in shares of Medtronic by 220.9% during the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after purchasing an additional 1,660,357 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MDT. Robert W. Baird raised their target price on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Daiwa Capital Markets lifted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Insider Activity

In other 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 value of $788,045.90. Following the sale, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was 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 approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by company insiders.

Medtronic Stock Up 0.6%

Shares of NYSE MDT opened at $95.62 on Friday. The company’s 50-day simple moving average is $94.07 and its 200-day simple moving average is $88.98. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The firm has a market cap of $122.65 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 2.50 and a beta of 0.78. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT) last announced 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 net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the business earned $1.23 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were given a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is 78.24%.

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.