Cutler Investment Counsel LLC Has $10.61 Million Stake in Medtronic PLC $MDT

Cutler Investment Counsel LLC trimmed its stake in Medtronic PLC (NYSE:MDT) by 0.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 120,767 shares of the medical technology company’s stock after selling 346 shares during the period. Medtronic accounts for about 1.2% of Cutler Investment Counsel LLC’s holdings, making the stock its 29th largest position. Cutler Investment Counsel LLC’s holdings in Medtronic were worth $10,611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cornerstone Wealth Group LLC acquired a new stake in Medtronic in the 2nd quarter worth $275,000. NorthRock Partners LLC grew its position in Medtronic by 16.3% in the 2nd quarter. NorthRock Partners LLC now owns 13,417 shares of the medical technology company’s stock worth $1,175,000 after purchasing an additional 1,883 shares during the last quarter. Verdence Capital Advisors LLC grew its position in Medtronic by 22.0% in the 2nd quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after purchasing an additional 5,296 shares during the last quarter. Endowment Wealth Management Inc. grew its position in Medtronic by 5.5% in the 2nd quarter. Endowment Wealth Management Inc. now owns 2,879 shares of the medical technology company’s stock worth $251,000 after purchasing an additional 149 shares during the last quarter. Finally, Westchester Capital Management Inc. grew its position in Medtronic by 0.5% in the 2nd quarter. Westchester Capital Management Inc. now owns 98,954 shares of the medical technology company’s stock worth $8,626,000 after purchasing an additional 500 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of several research analyst reports. Evercore ISI raised their price target on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Truist Financial lifted their target price on shares of Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.41.

Medtronic Trading Up 0.2%

Shares of MDT stock opened at $95.63 on Tuesday. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The company has a market capitalization of $122.66 billion, a P/E ratio of 26.34, a P/E/G ratio of 2.51 and a beta of 0.78. The firm has a 50-day moving average price of $93.68 and a 200 day moving average price of $88.80. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the firm posted $1.23 EPS. The firm’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. Research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

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.