Grandfield & Dodd LLC Sells 6,912 Shares of Medtronic PLC $MDT

Grandfield & Dodd LLC lowered its stake in Medtronic PLC (NYSE:MDT) by 7.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 87,456 shares of the medical technology company’s stock after selling 6,912 shares during the period. Grandfield & Dodd LLC’s holdings in Medtronic were worth $7,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Donoghue Forlines LLC grew its stake in shares of Medtronic by 5.2% during the 2nd quarter. Donoghue Forlines LLC now owns 16,731 shares of the medical technology company’s stock valued at $1,458,000 after purchasing an additional 826 shares during the period. Clearstead Trust LLC grew its position in shares of Medtronic by 3.2% during the 2nd quarter. Clearstead Trust LLC now owns 10,839 shares of the medical technology company’s stock valued at $945,000 after acquiring an additional 333 shares during the period. W.H. Cornerstone Investments Inc. increased its stake in shares of Medtronic by 44.0% in the 2nd quarter. W.H. Cornerstone Investments Inc. now owns 17,643 shares of the medical technology company’s stock worth $1,538,000 after purchasing an additional 5,390 shares in the last quarter. Capital Investment Counsel Inc raised its holdings in Medtronic by 13.5% in the 2nd quarter. Capital Investment Counsel Inc now owns 2,900 shares of the medical technology company’s stock worth $253,000 after purchasing an additional 346 shares during the period. Finally, EagleClaw Capital Managment LLC lifted its position in Medtronic by 6.7% during the second quarter. EagleClaw Capital Managment LLC now owns 32,247 shares of the medical technology company’s stock valued at $2,811,000 after purchasing an additional 2,037 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Up 0.3%

Shares of NYSE:MDT opened at $96.12 on Friday. The company has a market cap of $123.29 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 2.42 and a beta of 0.77. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. 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 company has a 50-day moving average price of $94.37 and a 200 day moving average price of $90.26.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 company 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 company earned $1.23 earnings per share. Medtronic’s 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 predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MDT shares. JPMorgan Chase & Co. raised their price objective on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday. UBS Group lifted their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. The Goldman Sachs Group lowered their target price on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a report on Wednesday, October 1st. Robert W. Baird raised their target price on shares of Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.06.

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.