Allied Investment Advisors LLC Boosts Stock Position in Medtronic PLC $MDT

Allied Investment Advisors LLC increased its stake in shares of Medtronic PLC (NYSE:MDT) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 118,192 shares of the medical technology company’s stock after acquiring an additional 2,780 shares during the quarter. Medtronic comprises about 1.8% of Allied Investment Advisors LLC’s portfolio, making the stock its 29th largest holding. Allied Investment Advisors LLC’s holdings in Medtronic were worth $10,303,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDT. Legacy Advisory Services LLC bought a new position in Medtronic in the 1st quarter valued at $541,000. GC Wealth Management RIA LLC raised its stake in Medtronic by 20.6% in the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after buying an additional 5,734 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after buying an additional 5,296 shares during the last quarter. RNC Capital Management LLC increased its holdings in shares of Medtronic by 8.8% in the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock valued at $37,474,000 after purchasing an additional 33,729 shares during the period. Finally, Sivik Global Healthcare LLC grew its holdings in Medtronic by 6.7% during the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock worth $6,974,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Truist Financial raised their price objective on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $111.00 price objective on shares of Medtronic in a research report on Friday, October 10th. The Goldman Sachs Group reduced their target price on Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a research report on Wednesday, October 1st. Argus lifted their target price on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 price objective (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Activity

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 of the company’s stock, valued at approximately $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. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $93.76 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $94.32 and its two-hundred day moving average is $89.33. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The stock has a market capitalization of $120.26 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 2.48 and a beta of 0.78.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is 78.24%.

Medtronic 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.