HighMark Wealth Management LLC Acquires 1,334 Shares of Medtronic PLC $MDT

HighMark Wealth Management LLC raised its holdings in Medtronic PLC (NYSE:MDT) by 461.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,623 shares of the medical technology company’s stock after buying an additional 1,334 shares during the quarter. HighMark Wealth Management LLC’s holdings in Medtronic were worth $141,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Red Spruce Capital LLC grew its position in Medtronic by 0.5% in the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after purchasing an additional 118 shares during the last quarter. Certior Financial Group LLC lifted its stake in shares of Medtronic by 3.7% in the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after buying an additional 122 shares during the period. Dunhill Financial LLC grew its position in Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock worth $76,000 after buying an additional 124 shares in the last quarter. Cidel Asset Management Inc. increased its stake in Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock valued at $856,000 after acquiring an additional 126 shares during the period. Finally, Petros Family Wealth LLC raised its holdings in Medtronic by 4.3% in the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock valued at $280,000 after acquiring an additional 127 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Up 0.8%

Shares of NYSE MDT opened at $95.57 on Friday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25. 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 business has a fifty day moving average of $92.85 and a two-hundred day moving average of $88.46. The stock has a market cap of $122.59 billion, a PE ratio of 26.33, a PEG ratio of 2.50 and a beta of 0.78.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. The business 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%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. 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%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Leerink Partnrs raised Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. William Blair upgraded shares of Medtronic to a “hold” rating in a research note on Friday, July 11th. Morgan Stanley restated an “overweight” rating and issued a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Finally, Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.27.

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were acquired 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. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.

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.