Tufton Capital Management Sells 1,914 Shares of Medtronic PLC $MDT

Tufton Capital Management cut its holdings in Medtronic PLC (NYSE:MDT) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 67,537 shares of the medical technology company’s stock after selling 1,914 shares during the period. Tufton Capital Management’s holdings in Medtronic were worth $5,887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. NewSquare Capital LLC grew its holdings in shares of Medtronic by 71.5% in the second quarter. NewSquare Capital LLC now owns 657 shares of the medical technology company’s stock valued at $57,000 after acquiring an additional 274 shares in the last quarter. Huntington National Bank grew its holdings in shares of Medtronic by 9.7% in the second quarter. Huntington National Bank now owns 169,388 shares of the medical technology company’s stock valued at $14,766,000 after acquiring an additional 14,998 shares in the last quarter. Bridgewater Advisors Inc. grew its holdings in shares of Medtronic by 6.1% in the second quarter. Bridgewater Advisors Inc. now owns 2,866 shares of the medical technology company’s stock valued at $265,000 after acquiring an additional 165 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Medtronic by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock valued at $1,854,616,000 after acquiring an additional 595,549 shares in the last quarter. Finally, Wellington Shields Capital Management LLC lifted its stake in Medtronic by 57.1% in the second quarter. Wellington Shields Capital Management LLC now owns 550 shares of the medical technology company’s stock valued at $48,000 after purchasing an additional 200 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Activity

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s 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 completion of the sale, the executive vice president directly 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 is available in the SEC filing. Company insiders own 0.26% of the company’s stock.

Medtronic Trading Down 0.6%

NYSE:MDT opened at $90.19 on Tuesday. The company has a market cap of $115.68 billion, a P/E ratio of 24.84, a P/E/G ratio of 2.42 and a beta of 0.78. The stock’s fifty day moving average price is $94.31 and its two-hundred day moving average price is $89.82. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. 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 (NYSE:MDT) last posted its 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 firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm 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 of this dividend was Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Truist Financial upped their price objective on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Robert W. Baird upped their price target on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. Mizuho upped their price target on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $98.00 price target on shares of Medtronic in a research report on Friday. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

About Medtronic

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.