St. James Investment Company LLC Purchases 2,077 Shares of Medtronic PLC $MDT

St. James Investment Company LLC grew its position in Medtronic PLC (NYSE:MDT) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 314,785 shares of the medical technology company’s stock after purchasing an additional 2,077 shares during the quarter. Medtronic comprises approximately 4.4% of St. James Investment Company LLC’s investment portfolio, making the stock its 9th biggest position. St. James Investment Company LLC’s holdings in Medtronic were worth $27,440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Red Spruce Capital LLC grew its position 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 valued at $2,067,000 after purchasing an additional 118 shares during the last quarter. Certior Financial Group LLC grew its position 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 valued at $310,000 after purchasing an additional 122 shares during the last quarter. Cidel Asset Management Inc. grew its position in shares of Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock valued at $856,000 after purchasing an additional 126 shares during the last quarter. Petros Family Wealth LLC grew its position in shares of Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock valued at $280,000 after purchasing an additional 127 shares during the last quarter. Finally, PrairieView Partners LLC grew its position in Medtronic by 3.6% during the second quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock worth $324,000 after buying an additional 128 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the 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 completion of the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MDT shares. Truist Financial increased their price target on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Wells Fargo & Company increased their price target on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Sanford C. Bernstein increased 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. The Goldman Sachs Group reduced their price target on Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a research report on Wednesday, October 1st. Finally, Argus increased their price target on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Stock Down 0.1%

NYSE MDT opened at $95.84 on Wednesday. The business has a fifty day moving average price of $94.20 and a two-hundred day moving average price of $89.13. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The stock has a market capitalization of $122.93 billion, a PE ratio of 26.40, a PEG ratio of 2.53 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 for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s dividend payout ratio is presently 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.