Medtronic PLC $MDT Shares Bought by Old North State Wealth Management LLC

Old North State Wealth Management LLC increased its stake in shares of Medtronic PLC (NYSE:MDT) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,214 shares of the medical technology company’s stock after purchasing an additional 1,850 shares during the period. Medtronic accounts for about 1.9% of Old North State Wealth Management LLC’s holdings, making the stock its 19th biggest position. Old North State Wealth Management LLC’s holdings in Medtronic were worth $3,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in Medtronic during the 4th quarter worth approximately $27,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in Medtronic in the 4th quarter worth $2,599,000. Wealth Enhancement Advisory Services LLC increased its holdings in Medtronic by 32.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 477,719 shares of the medical technology company’s stock worth $38,160,000 after purchasing an additional 116,310 shares during the last quarter. Finally, 111 Capital purchased a new position in shares of Medtronic during the 4th quarter valued at approximately $919,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Performance

NYSE:MDT opened at $94.26 on Friday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25. 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 firm has a market capitalization of $120.91 billion, a PE ratio of 25.97, a PEG ratio of 2.52 and a beta of 0.77. The firm’s fifty day simple moving average is $92.48 and its 200 day simple moving average is $88.39.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The business’s 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, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is 78.24%.

Insider Activity

In other news, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Robert W. Baird raised their price objective on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Wells Fargo & Company increased their price target on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Daiwa Capital Markets increased their price target on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Finally, Argus boosted their target price on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $102.27.

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.