Medtronic PLC $MDT Shares Purchased by CCLA Investment Management

CCLA Investment Management increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 10.9% in the second quarter, Holdings Channel reports. The firm owned 125,544 shares of the medical technology company’s stock after buying an additional 12,327 shares during the period. CCLA Investment Management’s holdings in Medtronic were worth $10,944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Medtronic by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock valued at $11,233,780,000 after acquiring an additional 810,854 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Medtronic by 7.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock valued at $2,001,903,000 after acquiring an additional 1,461,841 shares during the period. Bank of New York Mellon Corp boosted its holdings in Medtronic by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock valued at $1,858,332,000 after acquiring an additional 756,192 shares during the period. Deutsche Bank AG boosted its holdings in Medtronic by 3.1% during the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after acquiring an additional 566,155 shares during the period. Finally, Invesco Ltd. boosted its holdings in Medtronic by 9.9% during the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock valued at $1,525,876,000 after acquiring an additional 1,535,308 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $111.00 target price on shares of Medtronic in a report on Friday, October 10th. Robert W. Baird lifted their price objective on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Morgan Stanley reiterated 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. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Finally, Truist Financial lifted their price objective on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Insider Activity

In other news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction 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 transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by company insiders.

Medtronic Price Performance

Shares of NYSE MDT opened at $93.76 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The firm has a market capitalization of $120.26 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. The stock’s 50-day simple moving average is $94.32 and its 200-day simple moving average is $89.42.

Medtronic (NYSE:MDT) last issued 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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the company earned $1.23 EPS. The business’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, equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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