S&CO Inc. Trims Position in Medtronic PLC $MDT

S&CO Inc. trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,561 shares of the medical technology company’s stock after selling 1,709 shares during the period. S&CO Inc.’s holdings in Medtronic were worth $9,463,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares in the last quarter. Alps Advisors Inc. lifted its holdings in shares of Medtronic by 1.1% in the first quarter. Alps Advisors Inc. now owns 27,427 shares of the medical technology company’s stock worth $2,465,000 after buying an additional 290 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Medtronic by 4.1% during the first quarter. Ballentine Partners LLC now owns 16,947 shares of the medical technology company’s stock worth $1,523,000 after acquiring an additional 660 shares during the last quarter. Kathmere Capital Management LLC grew its stake in Medtronic by 64.4% during the first quarter. Kathmere Capital Management LLC now owns 5,984 shares of the medical technology company’s stock valued at $538,000 after acquiring an additional 2,343 shares in the last quarter. Finally, FDx Advisors Inc. bought a new stake in Medtronic in the 1st quarter valued at $294,000. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other news, 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 owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average cost 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 in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research analyst reports. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $98.00 target price on shares of Medtronic in a report on Friday, October 31st. Citigroup increased their price target on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Stifel Nicolaus raised their price target on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Finally, Mizuho upped their price objective on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. 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 issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Trading Up 2.4%

Shares of MDT stock opened at $92.22 on Monday. The company has a market cap of $118.29 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The stock’s 50 day simple moving average is $94.20 and its two-hundred day simple moving average is $90.05. 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 announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the previous year, the business earned $1.23 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were given a dividend of $0.71 per share. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic’s 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.