Harvest Portfolios Group Inc. Acquires 52,473 Shares of Medtronic PLC $MDT

Harvest Portfolios Group Inc. grew its stake in shares of Medtronic PLC (NYSE:MDT) by 8.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 666,163 shares of the medical technology company’s stock after purchasing an additional 52,473 shares during the quarter. Medtronic makes up approximately 1.4% of Harvest Portfolios Group Inc.’s investment portfolio, making the stock its 20th largest position. Harvest Portfolios Group Inc. owned approximately 0.05% of Medtronic worth $58,069,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. boosted its stake in shares of Medtronic by 1.9% during the second quarter. Gilbert & Cook Inc. now owns 6,103 shares of the medical technology company’s stock valued at $532,000 after purchasing an additional 114 shares in the last quarter. Red Spruce Capital LLC raised its stake in Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after buying an additional 118 shares in the last quarter. Certior Financial Group LLC lifted its holdings in Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after buying an additional 122 shares during the period. PrairieView Partners LLC boosted its position in Medtronic by 3.6% during the 2nd quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock valued at $324,000 after acquiring an additional 128 shares in the last quarter. Finally, Motco increased its holdings in shares of Medtronic by 27.0% in the 1st quarter. Motco now owns 635 shares of the medical technology company’s stock valued at $57,000 after acquiring an additional 135 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $111.00 price objective on shares of Medtronic in a research report on Friday, October 10th. UBS Group increased their target price on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Truist Financial raised their target price on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Finally, William Blair raised Medtronic to a “hold” rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company’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 transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William R. Jellison bought 2,500 shares of the stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.26% of the stock is currently owned by insiders.

Medtronic Trading Down 0.3%

NYSE:MDT opened at $90.10 on Friday. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. The firm has a fifty day simple moving average of $94.21 and a 200-day simple moving average of $89.88. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $115.57 billion, a P/E ratio of 24.82, a PEG ratio of 2.42 and a beta of 0.77.

Medtronic (NYSE:MDT) last announced 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 analysts’ expectations of $8.37 billion. During the same period in the previous year, the business posted $1.23 EPS. The business’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, equities research analysts anticipate 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. Investors of record on Friday, September 26th were issued 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 yield of 3.2%. Medtronic’s dividend payout ratio is 78.24%.

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.