Medtronic PLC $MDT Position Lifted by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY boosted its stake in Medtronic PLC (NYSE:MDT) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,181 shares of the medical technology company’s stock after buying an additional 6,929 shares during the quarter. Medtronic makes up approximately 3.3% of Matrix Asset Advisors Inc. NY’s portfolio, making the stock its 8th largest holding. Matrix Asset Advisors Inc. NY’s holdings in Medtronic were worth $32,181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Advisory Services LLC purchased a new position in Medtronic in the 1st quarter valued at about $541,000. GC Wealth Management RIA LLC lifted its stake in Medtronic by 20.6% in the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after purchasing an additional 5,734 shares in the last quarter. RNC Capital Management LLC lifted its stake in Medtronic by 8.8% in the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after purchasing an additional 33,729 shares in the last quarter. Commerce Bank lifted its stake in Medtronic by 1.7% in the 1st quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock worth $13,118,000 after purchasing an additional 2,429 shares in the last quarter. Finally, Brighton Jones LLC lifted its stake in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In related 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 value of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Down 1.0%

MDT stock opened at $95.52 on Friday. The firm has a market cap of $122.52 billion, a PE ratio of 26.31, a PEG ratio of 2.51 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The firm’s 50 day moving average price is $93.56 and its 200-day moving average price is $88.74. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37.

Medtronic (NYSE:MDT) last released 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. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Morgan Stanley reissued an “overweight” rating and issued a $107.00 target price (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.41.

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.