Leith Wheeler Investment Counsel Ltd. Decreases Stock Position in Medtronic PLC $MDT

Leith Wheeler Investment Counsel Ltd. reduced its holdings in shares of Medtronic PLC (NYSE:MDT) by 31.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,294 shares of the medical technology company’s stock after selling 161,632 shares during the quarter. Medtronic makes up 2.2% of Leith Wheeler Investment Counsel Ltd.’s investment portfolio, making the stock its 11th largest position. Leith Wheeler Investment Counsel Ltd.’s holdings in Medtronic were worth $30,797,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in shares of Medtronic during the 1st quarter worth approximately $26,000. Twin Tree Management LP purchased a new position in Medtronic during the first quarter worth $29,000. Activest Wealth Management raised its holdings in shares of Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 322 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Medtronic in the first quarter valued at $32,000. Finally, Investment Management Corp VA ADV lifted its position in shares of Medtronic by 144.2% in the first quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock valued at $36,000 after acquiring an additional 238 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other news, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated Wednesday, September 3rd. The shares were 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 directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $92.69 on Tuesday. Medtronic PLC has a one year low of $79.29 and a one year 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. The company has a 50 day moving average price of $94.20 and a 200 day moving average price of $90.11. The firm has a market capitalization of $118.89 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77.

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 company had revenue of $8.58 billion for 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%. Medtronic’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS 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 given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s payout ratio is 78.24%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MDT. Daiwa Capital Markets boosted their target price on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Morgan Stanley reiterated an “overweight” rating and set a $107.00 price target (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. The Goldman Sachs Group reduced their price objective on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a research note on Wednesday, October 1st. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Wells Fargo & Company increased their price target on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.82.

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.