Medtronic PLC $MDT Shares Sold by Oak Associates Ltd. OH

Oak Associates Ltd. OH trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,162 shares of the medical technology company’s stock after selling 500 shares during the period. Oak Associates Ltd. OH’s holdings in Medtronic were worth $1,452,000 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. Oarsman Capital Inc. grew its holdings in Medtronic by 9.6% during the 1st quarter. Oarsman Capital Inc. now owns 33,333 shares of the medical technology company’s stock valued at $2,995,000 after purchasing an additional 2,933 shares in the last quarter. Cape ANN Savings Bank acquired a new position in Medtronic during the 1st quarter worth $258,000. Wealth Preservation Advisors LLC acquired a new position in Medtronic during the 1st quarter worth $83,000. CreativeOne Wealth LLC grew its holdings in Medtronic by 13.1% during the 1st quarter. CreativeOne Wealth LLC now owns 14,110 shares of the medical technology company’s stock worth $1,268,000 after acquiring an additional 1,631 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in Medtronic by 64.4% during the 1st quarter. Ieq Capital LLC now owns 165,333 shares of the medical technology company’s stock worth $14,857,000 after acquiring an additional 64,747 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MDT. Leerink Partners began coverage on shares of Medtronic in a report on Monday, June 16th. They set an “outperform” rating and a $110.00 price objective for the company. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Leerink Partnrs raised shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Morgan Stanley reissued an “overweight” rating and set a $107.00 price objective (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada decreased their price objective on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.14.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Medtronic Trading Down 0.2%

NYSE MDT opened at $91.98 on Thursday. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The company has a 50-day simple moving average of $90.06 and a 200-day simple moving average of $88.06. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The firm has a market capitalization of $118.00 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 2.34 and a beta of 0.80.

Medtronic (NYSE:MDT) last posted its quarterly earnings results 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 14.56%. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the business posted $1.23 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic’s payout ratio is 78.24%.

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.