IFP Advisors Inc Increases Stake in Medtronic PLC $MDT

IFP Advisors Inc raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.0% in the second quarter, Holdings Channel reports. The institutional investor owned 43,435 shares of the medical technology company’s stock after acquiring an additional 839 shares during the period. IFP Advisors Inc’s holdings in Medtronic were worth $3,792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MDT. Boston Partners increased its holdings 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 buying an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. increased 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 purchasing an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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 purchasing an additional 3,017,849 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Medtronic in the first quarter worth $260,649,000. Finally, Mackenzie Financial Corp increased 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 purchasing an additional 1,660,357 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of analyst reports. BTIG Research reissued a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Morgan Stanley reissued an “overweight” rating and issued a $107.00 price objective (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Sanford C. Bernstein increased their price objective on shares of Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Finally, The Goldman Sachs Group reduced their price objective on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.41.

Medtronic Stock Performance

MDT opened at $95.52 on Friday. The stock has a market capitalization 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 fifty day moving average of $93.56 and a 200 day moving average of $88.74. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is 78.24%.

Insider Buying and Selling at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director 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 link. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value 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 position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

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.