Medtronic PLC $MDT Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. trimmed its holdings in Medtronic PLC (NYSE:MDT) by 46.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,459 shares of the medical technology company’s stock after selling 10,973 shares during the period. Logan Capital Management Inc.’s holdings in Medtronic were worth $1,086,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Brighton Jones LLC increased its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Sovran Advisors LLC increased its position in Medtronic by 13.6% during the first quarter. Sovran Advisors LLC now owns 5,532 shares of the medical technology company’s stock worth $457,000 after purchasing an additional 661 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Medtronic during the first quarter worth about $77,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Medtronic during the first quarter valued at about $4,016,000. Finally, Smith Salley Wealth Management increased its position in shares of Medtronic by 2.0% during the first quarter. Smith Salley Wealth Management now owns 180,276 shares of the medical technology company’s stock valued at $16,200,000 after acquiring an additional 3,588 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $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 Medtronic stock in a transaction that occurred on Wednesday, September 3rd. The stock was 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 owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.26% of the stock is owned by insiders.

Medtronic Trading Down 0.8%

NYSE MDT opened at $93.33 on Wednesday. The firm has a 50 day simple moving average of $94.42 and a 200-day simple moving average of $89.55. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The firm has a market cap of $119.72 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 2.48 and a beta of 0.78.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 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 during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The business’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 research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were paid a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s payout ratio is currently 78.24%.

Analysts Set New Price Targets

MDT has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. William Blair upgraded shares of Medtronic to a “hold” rating in a research report on Friday, July 11th. BTIG Research reiterated a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. The Goldman Sachs Group dropped their price target on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research report on Wednesday, October 1st. Finally, Daiwa Capital Markets lifted their price target on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $102.82.

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.