Ballast Advisors LLC Acquires 3,788 Shares of Medtronic PLC $MDT

Ballast Advisors LLC boosted its holdings in shares of Medtronic PLC (NYSE:MDT) by 73.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,939 shares of the medical technology company’s stock after acquiring an additional 3,788 shares during the quarter. Ballast Advisors LLC’s holdings in Medtronic were worth $779,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Boston Partners raised its position in Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after acquiring an additional 3,809,450 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after acquiring an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after acquiring an additional 3,017,849 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Medtronic in the first quarter worth $260,649,000. Finally, Mackenzie Financial Corp grew its stake in shares of Medtronic by 220.9% in the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after acquiring an additional 1,660,357 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MDT. Sanford C. Bernstein raised their target price on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. UBS Group raised their target price on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Truist Financial raised their target price on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 target price (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Finally, Stifel Nicolaus raised their target price on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Insider Buying and Selling

In related news, 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 transaction of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Jellison bought 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Down 0.5%

Shares of NYSE:MDT opened at $93.76 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. The firm has a market cap of $120.26 billion, a P/E ratio of 25.83, a P/E/G ratio of 2.47 and a beta of 0.78. The company’s 50-day moving average price is $94.32 and its two-hundred day moving average price is $89.39.

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, beating analysts’ consensus estimates of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

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.