Swedbank AB Grows Stake in Medtronic PLC $MDT

Swedbank AB grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 602,790 shares of the medical technology company’s stock after purchasing an additional 7,984 shares during the quarter. Swedbank AB’s holdings in Medtronic were worth $52,545,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Red Spruce Capital LLC grew its stake in shares of Medtronic by 0.5% during the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after acquiring an additional 118 shares during the last quarter. Certior Financial Group LLC boosted its stake in Medtronic by 3.7% in the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after purchasing an additional 122 shares in the last quarter. Dunhill Financial LLC grew its position in Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock worth $76,000 after purchasing an additional 124 shares during the last quarter. Cidel Asset Management Inc. increased its stake in Medtronic by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock valued at $856,000 after purchasing an additional 126 shares in the last quarter. Finally, Petros Family Wealth LLC raised its holdings in shares of Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock worth $280,000 after buying an additional 127 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $95.60 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The stock has a market capitalization of $122.62 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.49 and a beta of 0.77. The firm’s 50 day simple moving average is $91.96 and its 200-day simple moving average is $88.35. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The firm’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. Analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Royal Bank Of Canada dropped their price target on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company increased their price objective on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. William Blair raised Medtronic to a “hold” rating in a report on Friday, July 11th. Finally, BTIG Research reiterated a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.27.

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 8,605 shares of the 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 transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 stock was bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly 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 can be found here. Corporate insiders own 0.26% of the company’s stock.

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.