Cerro Pacific Wealth Advisors LLC Increases Stake in Medtronic PLC $MDT

Cerro Pacific Wealth Advisors LLC increased its holdings in Medtronic PLC (NYSE:MDT) by 53.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,638 shares of the medical technology company’s stock after purchasing an additional 4,406 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Medtronic were worth $1,102,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MDT. 1248 Management LLC purchased a new stake in shares of Medtronic in the 1st quarter valued at $26,000. Columbia River Financial Group LLC purchased a new stake in shares of Medtronic in the 1st quarter valued at $28,000. Twin Tree Management LP purchased a new stake in shares of Medtronic in the 1st quarter valued at $29,000. Activest Wealth Management boosted its stake in shares of Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in shares of Medtronic in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.0%

Shares of NYSE MDT opened at $95.52 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. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. The firm has a market capitalization of $122.52 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The firm has a fifty day simple moving average of $93.56 and a two-hundred day simple moving average of $88.74.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the business earned $1.23 EPS. The company’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. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on MDT. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Leerink Partners assumed coverage on shares of Medtronic in a report on Monday, June 16th. They set an “outperform” rating and a $110.00 price target for the company. Wells Fargo & Company upped their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. William Blair upgraded shares of Medtronic to a “hold” rating in a report on Friday, July 11th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $107.00 price target (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.41.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the 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 transaction, the executive vice president directly owned 35,615 shares in the company, valued at $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 available through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at $461,850. This 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 corporate insiders.

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.