Franklin Parlapiano Turner & Welch LLC Has $7.73 Million Stock Holdings in Medtronic PLC $MDT

Franklin Parlapiano Turner & Welch LLC increased its stake in Medtronic PLC (NYSE:MDT) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,636 shares of the medical technology company’s stock after acquiring an additional 481 shares during the quarter. Medtronic comprises 2.0% of Franklin Parlapiano Turner & Welch LLC’s holdings, making the stock its 16th largest holding. Franklin Parlapiano Turner & Welch LLC’s holdings in Medtronic were worth $7,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of MDT. 1248 Management LLC bought a new position in Medtronic in the 1st quarter valued at $26,000. Columbia River Financial Group LLC purchased a new stake in shares of Medtronic in the 1st quarter valued at about $28,000. Twin Tree Management LP purchased a new stake in shares of Medtronic in the 1st quarter valued at about $29,000. Activest Wealth Management increased its position in shares of Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new position in shares of Medtronic during the 1st quarter valued at about $32,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 1.0%

Shares of NYSE MDT opened at $95.52 on Friday. The business’s 50 day moving average is $93.56 and its two-hundred day moving average is $88.74. 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 $99.37. The stock has a market capitalization of $122.52 billion, a P/E ratio of 26.31, a PEG ratio of 2.51 and a beta of 0.78.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS 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 analysts’ expectations of $8.37 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. 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. As a group, research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic’s payout ratio is presently 78.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MDT. Stifel Nicolaus raised their target price on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday. Morgan Stanley reissued an “overweight” rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Evercore ISI lifted their price objective on Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, The Goldman Sachs Group cut their price target on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $102.41.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at 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 transaction of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.