Addenda Capital Inc. Sells 487 Shares of Medtronic PLC $MDT

Addenda Capital Inc. decreased its position in shares of Medtronic PLC (NYSE:MDT) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,987 shares of the medical technology company’s stock after selling 487 shares during the period. Addenda Capital Inc.’s holdings in Medtronic were worth $7,117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Medtronic by 0.7% in the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock worth $11,233,780,000 after acquiring an additional 810,854 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Medtronic by 7.0% in the first 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 purchasing an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 buying an additional 756,192 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Medtronic by 3.1% in 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 buying an additional 566,155 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Medtronic by 9.9% in the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after buying an additional 1,535,308 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDT has been the subject of a number of analyst reports. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Leerink Partnrs raised shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Citigroup upped their price objective on shares of Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Truist Financial raised their target price on Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Finally, Wells Fargo & Company upped their price target on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $102.27.

Insider Activity at Medtronic

In other news, 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 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. The trade was a 19.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction on 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 purchase, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Up 0.0%

MDT stock opened at $94.34 on Friday. The company has a market cap of $121.01 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 2.48 and a beta of 0.77. The firm has a 50-day moving average of $92.57 and a two-hundred day moving average of $88.38. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating 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 firm had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The business’s revenue for the quarter 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, analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

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.