CSM Advisors LLC Takes $21.98 Million Position in Medtronic PLC $MDT

CSM Advisors LLC acquired a new position in shares of Medtronic PLC (NYSE:MDT) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 252,093 shares of the medical technology company’s stock, valued at approximately $21,978,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Gilbert & Cook Inc. boosted its holdings in shares of Medtronic by 1.9% in the 2nd 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 during the last quarter. Red Spruce Capital LLC raised its position in shares of Medtronic by 0.5% in the 2nd 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 during the period. Certior Financial Group LLC boosted its holdings in Medtronic by 3.7% in the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after acquiring an additional 122 shares during the last quarter. PrairieView Partners LLC grew its position in Medtronic by 3.6% during the second 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 during the period. Finally, Motco grew its position in Medtronic by 27.0% during the first 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. UBS Group lifted their price target 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. Citigroup boosted their price objective on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Robert W. Baird raised their target price on shares of Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Finally, Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Trading Up 2.4%

NYSE MDT opened at $92.22 on Friday. The stock has a market cap of $118.29 billion, a P/E ratio of 25.41, a PEG ratio of 2.42 and a beta of 0.77. The company’s fifty day simple moving average is $94.20 and its 200-day simple moving average is $90.00. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating 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 business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the business earned $1.23 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were paid a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic’s payout ratio is 78.24%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was 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 of the company’s stock, 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 document filed with the SEC, which is accessible through this link. Also, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction on Monday, August 25th. The shares were acquired 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 directly owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 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.