Evergreen Wealth Management LLC Purchases 306 Shares of Medtronic PLC $MDT

Evergreen Wealth Management LLC boosted its position in Medtronic PLC (NYSE:MDT) by 1.1% during the second quarter, Holdings Channel.com reports. The fund owned 27,208 shares of the medical technology company’s stock after acquiring an additional 306 shares during the period. Medtronic accounts for 1.3% of Evergreen Wealth Management LLC’s holdings, making the stock its 27th largest holding. Evergreen Wealth Management LLC’s holdings in Medtronic were worth $2,372,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in 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 acquiring an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in 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 acquiring an additional 756,192 shares during the last quarter. Deutsche Bank AG grew its holdings in 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 acquiring an additional 566,155 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in 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 acquiring an additional 1,535,308 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE MDT opened at $93.33 on Wednesday. The firm has a 50 day moving average of $94.42 and a 200 day moving average of $89.55. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $119.72 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. The company 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%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic’s payout ratio is currently 78.24%.

Insider Activity at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction that occurred 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 in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The SEC filing for this sale provides additional information. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

MDT has been the topic of a number of recent analyst reports. Argus raised their price target on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Mizuho raised their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Wells Fargo & Company raised their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. BTIG Research reissued a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Finally, Truist Financial boosted their price objective on shares of Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. One equities 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.82.

About Medtronic

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.