Vest Financial LLC Has $57.66 Million Stock Holdings in Medtronic PLC $MDT

Vest Financial LLC increased its holdings in Medtronic PLC (NYSE:MDT) by 5.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 661,485 shares of the medical technology company’s stock after buying an additional 36,688 shares during the quarter. Vest Financial LLC’s holdings in Medtronic were worth $57,662,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MDT. Red Spruce Capital LLC increased its holdings in shares of Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after purchasing an additional 118 shares in the last quarter. Certior Financial Group LLC increased its holdings in shares of 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 purchasing an additional 122 shares in the last quarter. Dunhill Financial LLC increased its holdings in shares of Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock valued at $76,000 after purchasing an additional 124 shares in the last quarter. Cidel Asset Management Inc. increased its holdings in shares of Medtronic by 1.3% in the first 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 increased 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 valued at $280,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BTIG Research reissued a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Evercore ISI raised their price target on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Leerink Partners started coverage on shares of Medtronic in a research note on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective on the stock. Finally, Truist Financial raised their price objective on shares of Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.41.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The shares were 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Shares of MDT stock opened at $95.52 on Monday. The firm’s 50 day moving average price is $93.56 and its two-hundred day moving average price is $88.74. 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 has a market cap of $122.52 billion, a PE ratio of 26.31, a PEG ratio of 2.51 and a beta of 0.78. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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.