Stockman Wealth Management Inc. Buys 4,515 Shares of Medtronic PLC $MDT

Stockman Wealth Management Inc. lifted its stake in Medtronic PLC (NYSE:MDT) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,492 shares of the medical technology company’s stock after acquiring an additional 4,515 shares during the period. Medtronic makes up about 1.4% of Stockman Wealth Management Inc.’s holdings, making the stock its 29th largest holding. Stockman Wealth Management Inc.’s holdings in Medtronic were worth $10,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in MDT. Brighton Jones LLC raised its position in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after buying an additional 37,265 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Medtronic by 163.3% in the first quarter. Versant Capital Management Inc now owns 4,707 shares of the medical technology company’s stock worth $423,000 after buying an additional 2,919 shares in the last quarter. Moody National Bank Trust Division raised its position in Medtronic by 2.8% during the first quarter. Moody National Bank Trust Division now owns 14,089 shares of the medical technology company’s stock valued at $1,266,000 after purchasing an additional 388 shares in the last quarter. Quent Capital LLC raised its position in Medtronic by 79.9% during the first quarter. Quent Capital LLC now owns 2,468 shares of the medical technology company’s stock valued at $222,000 after purchasing an additional 1,096 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in Medtronic by 55.4% during the first quarter. AdvisorNet Financial Inc now owns 8,469 shares of the medical technology company’s stock valued at $761,000 after purchasing an additional 3,018 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.0%

MDT opened at $94.34 on Friday. The company has a market cap of $121.01 billion, a P/E ratio of 25.99, a P/E/G ratio of 2.48 and a beta of 0.77. The business’s 50-day moving average price is $92.57 and its 200-day moving average price is $88.38. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid 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 3.0%. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Argus raised their price target on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. William Blair upgraded Medtronic to a “hold” rating in a research report on Friday, July 11th. Citigroup raised their price target on Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Finally, Leerink Partners assumed coverage on Medtronic in a research report on Monday, June 16th. They set an “outperform” rating and a $110.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $102.27.

Insider Activity

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at $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 owned by company insiders.

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.