Medtronic PLC $MDT Shares Bought by Red Spruce Capital LLC

Red Spruce Capital LLC boosted its position in shares of Medtronic PLC (NYSE:MDT) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,707 shares of the medical technology company’s stock after buying an additional 118 shares during the period. Red Spruce Capital LLC’s holdings in Medtronic were worth $2,067,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MDT. Burkett Financial Services LLC increased its position in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after buying an additional 185 shares during the period. 1248 Management LLC acquired a new position in Medtronic during the first quarter worth approximately $26,000. Wood Tarver Financial Group LLC acquired a new position in Medtronic during the fourth quarter worth approximately $27,000. Columbia River Financial Group LLC acquired a new position in Medtronic during the first quarter worth approximately $28,000. Finally, Twin Tree Management LP purchased a new position in shares of Medtronic in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 0.2%

Medtronic stock opened at $94.05 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The company has a market cap of $120.64 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. The stock’s 50 day moving average price is $91.50 and its 200 day moving average price is $88.25.

Medtronic (NYSE:MDT) last posted 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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced 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. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic’s payout ratio is presently 78.24%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group lifted their target price on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Sanford C. Bernstein lifted their target price on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Argus lifted their target price on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Royal Bank Of Canada lowered their target price on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.14.

Insiders Place Their Bets

In other news, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by 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.