Medtronic PLC $MDT Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. trimmed its position in Medtronic PLC (NYSE:MDT) by 79.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,432 shares of the medical technology company’s stock after selling 87,990 shares during the period. Logan Capital Management Inc.’s holdings in Medtronic were worth $2,106,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MDT. Burkett Financial Services LLC lifted its position in Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 185 shares during the period. 1248 Management LLC acquired a new stake in Medtronic in the first quarter worth approximately $26,000. Wood Tarver Financial Group LLC acquired a new stake in Medtronic in the fourth quarter worth approximately $27,000. Columbia River Financial Group LLC acquired a new stake in Medtronic in the first quarter worth approximately $28,000. Finally, Twin Tree Management LP acquired a new stake in shares of Medtronic during the 1st quarter valued at $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MDT shares. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. Argus increased their price objective on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Morgan Stanley reissued an “overweight” rating and set a $107.00 target price (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Robert W. Baird raised their price target on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Finally, William Blair raised Medtronic to a “hold” rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.14.

Insiders Place Their Bets

In other news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction 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 directly 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 disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $94.04 on Wednesday. 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 firm has a market cap of $120.62 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.36 and a beta of 0.77. The firm has a 50 day simple moving average of $91.19 and a 200 day simple moving average of $88.20. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25.

Medtronic (NYSE:MDT) last issued 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. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. Medtronic’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis 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 currently 78.24%.

Medtronic 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.