Medtronic PLC $MDT Shares Acquired by Conning Inc.

Conning Inc. lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 1.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 12,877 shares of the medical technology company’s stock after acquiring an additional 138 shares during the period. Conning Inc.’s holdings in Medtronic were worth $1,122,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Medtronic by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock worth $11,233,780,000 after buying an additional 810,854 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Medtronic by 7.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock worth $2,001,903,000 after buying an additional 1,461,841 shares during the period. Bank of New York Mellon Corp raised its position in shares of Medtronic by 3.8% in the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock worth $1,858,332,000 after buying an additional 756,192 shares during the period. Deutsche Bank AG raised its position in shares of Medtronic by 3.1% in the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock worth $1,708,220,000 after buying an additional 566,155 shares during the period. Finally, Invesco Ltd. raised its position in shares of Medtronic by 9.9% in the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after buying an additional 1,535,308 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 1.0%

Shares of NYSE MDT opened at $95.52 on Friday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The firm has a market cap of $122.52 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.54 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The stock’s 50-day simple moving average is $93.56 and its 200-day simple moving average is $88.74.

Medtronic (NYSE:MDT) last posted its quarterly 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. The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts anticipate 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. Investors of record on Friday, September 26th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is 78.24%.

Insider Transactions at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. UBS Group raised their price objective on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Leerink Partnrs raised Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. 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, twelve have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.41.

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.