Hudson Valley Investment Advisors Inc. ADV Decreases Stake in Medtronic PLC $MDT

Hudson Valley Investment Advisors Inc. ADV lessened its stake in Medtronic PLC (NYSE:MDT) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,654 shares of the medical technology company’s stock after selling 419 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Medtronic were worth $8,948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MDT. Boston Partners boosted its holdings in Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after acquiring an additional 3,809,450 shares during the period. Ameriprise Financial Inc. boosted its holdings in Medtronic by 28.8% in the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after acquiring an additional 3,461,221 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Medtronic by 42.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after acquiring an additional 3,017,849 shares during the period. Nuveen LLC purchased a new position in Medtronic in the 1st quarter worth approximately $260,649,000. Finally, Mackenzie Financial Corp boosted its holdings in Medtronic by 220.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after acquiring an additional 1,660,357 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. BTIG Research restated a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Morgan Stanley restated an “overweight” rating and issued a $107.00 price target (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. William Blair raised Medtronic to a “hold” rating in a research report on Friday, July 11th. Daiwa Capital Markets upped their target price on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, Leerink Partnrs raised Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $102.27.

Medtronic Stock Performance

MDT stock opened at $97.63 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 firm has a market cap of $125.23 billion, a P/E ratio of 26.90, a P/E/G ratio of 2.51 and a beta of 0.78. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $97.94. The stock’s 50 day simple moving average is $92.94 and its 200 day simple moving average is $88.50.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 EPS. 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 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio is currently 78.24%.

Insider Activity at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’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 sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

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.