Exchange Capital Management Inc. Acquires 1,658 Shares of Medtronic PLC $MDT

Exchange Capital Management Inc. grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,026 shares of the medical technology company’s stock after buying an additional 1,658 shares during the period. Exchange Capital Management Inc.’s holdings in Medtronic were worth $3,576,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Brighton Jones LLC grew its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares during the period. Merit Financial Group LLC increased its holdings in Medtronic by 78.2% in the 1st quarter. Merit Financial Group LLC now owns 41,474 shares of the medical technology company’s stock valued at $3,727,000 after acquiring an additional 18,204 shares during the last quarter. RFG Advisory LLC lifted its position in shares of Medtronic by 6.1% in the first quarter. RFG Advisory LLC now owns 25,974 shares of the medical technology company’s stock worth $2,334,000 after buying an additional 1,482 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Medtronic by 128.6% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 8,013 shares of the medical technology company’s stock valued at $720,000 after acquiring an additional 4,507 shares during the last quarter. Finally, Beacon Financial Group grew its stake in shares of Medtronic by 9.5% in the 1st quarter. Beacon Financial Group now owns 14,249 shares of the medical technology company’s stock worth $1,280,000 after buying an additional 1,233 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MDT. Leerink Partners began coverage on Medtronic in a report on Monday, June 16th. They set an “outperform” rating and a $110.00 price target on the stock. Sanford C. Bernstein increased their target price on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Wells Fargo & Company lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. Finally, BTIG Research restated a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $102.27.

Insider Transactions at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price 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 represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through 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 completion of the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Medtronic Stock Up 0.8%

NYSE:MDT opened at $95.57 on Friday. The firm has a market cap of $122.59 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.50 and a beta of 0.78. The company has a 50-day moving average of $92.85 and a 200 day moving average of $88.46. 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.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 13.63% and a return on equity of 14.61%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

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.