Leelyn Smith LLC Purchases 663 Shares of Medtronic PLC $MDT

Leelyn Smith LLC increased its position in shares of Medtronic PLC (NYSE:MDT) by 2.3% during the second quarter, HoldingsChannel reports. The fund owned 29,655 shares of the medical technology company’s stock after buying an additional 663 shares during the quarter. Leelyn Smith LLC’s holdings in Medtronic were worth $2,585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Advisory Services LLC bought a new stake in Medtronic during the 1st quarter worth $541,000. GC Wealth Management RIA LLC grew its position in 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 acquiring an additional 5,734 shares during the last quarter. Verdence Capital Advisors LLC grew its position in 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 acquiring an additional 5,296 shares during the last quarter. RNC Capital Management LLC grew its position in Medtronic by 8.8% during the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after acquiring an additional 33,729 shares during the last quarter. Finally, Sivik Global Healthcare LLC grew its position in Medtronic by 6.7% during the 2nd quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock worth $6,974,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction on 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 completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was 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 in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Morgan Stanley reiterated an “overweight” rating and issued a $107.00 price target (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday. William Blair upgraded Medtronic to a “hold” rating in a research report on Friday, July 11th. Finally, UBS Group upped their price target on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. One research 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Medtronic Stock Down 0.5%

Shares of NYSE:MDT opened at $93.76 on Friday. The company has a market capitalization of $120.26 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 2.48 and a beta of 0.78. 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 business’s 50-day moving average is $94.32 and its 200-day moving average is $89.33. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. 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.