Oarsman Capital Inc. Sells 507 Shares of Medtronic PLC $MDT

Oarsman Capital Inc. reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,826 shares of the medical technology company’s stock after selling 507 shares during the quarter. Oarsman Capital Inc.’s holdings in Medtronic were worth $2,861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Advisory Services LLC bought a new position in shares of Medtronic during the first quarter valued at about $541,000. GC Wealth Management RIA LLC boosted its holdings in shares of Medtronic by 20.6% during the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after purchasing an additional 5,734 shares during the period. Verdence Capital Advisors LLC boosted its holdings in shares of Medtronic by 22.0% during the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after purchasing an additional 5,296 shares during the period. Sivik Global Healthcare LLC boosted its holdings in shares of Medtronic by 6.7% during the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock worth $6,974,000 after purchasing an additional 5,000 shares during the period. Finally, RNC Capital Management LLC boosted its holdings in shares of Medtronic by 8.8% during the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after purchasing an additional 33,729 shares during the period. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly 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 currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MDT shares. Wells Fargo & Company increased their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. William Blair upgraded shares of Medtronic to a “hold” rating in a report on Friday, July 11th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday. Daiwa Capital Markets increased their target price on shares of Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, UBS Group raised their price objective on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Stock Performance

Shares of MDT opened at $93.33 on Wednesday. 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 one year low of $79.29 and a one year high of $99.37. The company has a 50-day simple moving average of $94.42 and a two-hundred day simple moving average of $89.55. The firm has a market capitalization of $119.72 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 period last year, the business posted $1.23 earnings per share. Medtronic’s quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Medtronic 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.