SlateStone Wealth LLC Purchases 3,442 Shares of Medtronic PLC $MDT

SlateStone Wealth LLC boosted its position in Medtronic PLC (NYSE:MDT) by 6.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,284 shares of the medical technology company’s stock after buying an additional 3,442 shares during the quarter. SlateStone Wealth LLC’s holdings in Medtronic were worth $5,168,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Medtronic by 1.5% during the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after purchasing an additional 1,895,165 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after acquiring an additional 310,684 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Medtronic by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock valued at $1,854,616,000 after purchasing an additional 595,549 shares during the last quarter. Deutsche Bank AG increased its position in shares of Medtronic by 3.1% during the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock worth $1,708,220,000 after purchasing an additional 566,155 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Medtronic by 9.9% during the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after purchasing an additional 1,535,308 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 8,605 shares of the business’s 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 transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Up 2.1%

NYSE:MDT opened at $103.36 on Tuesday. Medtronic PLC has a one year low of $79.29 and a one year high of $103.70. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The company has a market cap of $132.58 billion, a PE ratio of 28.47, a P/E/G ratio of 2.42 and a beta of 0.77. The firm’s 50 day simple moving average is $95.24 and its 200 day simple moving average is $91.14.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. The firm had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MDT shares. Jefferies Financial Group restated a “hold” rating and set a $110.00 price objective on shares of Medtronic in a research note on Wednesday, November 19th. The Goldman Sachs Group set a $111.00 target price on shares of Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Argus raised their price objective on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Sanford C. Bernstein set a $111.00 price target on Medtronic in a report on Wednesday, November 19th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.72.

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.