Medtronic PLC $MDT Stock Position Increased by Franklin Parlapiano Turner & Welch LLC

Franklin Parlapiano Turner & Welch LLC grew its stake in shares of Medtronic PLC (NYSE:MDT) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,636 shares of the medical technology company’s stock after buying an additional 481 shares during the quarter. Medtronic comprises 2.0% of Franklin Parlapiano Turner & Welch LLC’s holdings, making the stock its 16th biggest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Medtronic were worth $7,726,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. 1248 Management LLC acquired a new position in Medtronic during the 1st quarter valued at $26,000. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic in the 1st quarter valued at approximately $28,000. Twin Tree Management LP bought a new position in Medtronic in the first quarter valued at approximately $29,000. Activest Wealth Management raised its holdings in shares of Medtronic by 3,577.8% in the first 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 during the last quarter. Finally, Hughes Financial Services LLC bought a new position in Medtronic during the first quarter worth $32,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 1.0%

MDT stock opened at $95.52 on Friday. 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 business’s 50-day moving average is $93.56 and its two-hundred day moving average is $88.74. The company has a market cap of $122.52 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 2.51 and a beta of 0.78. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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 during 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 company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company earned $1.23 EPS. 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 year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given 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 is presently 78.24%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial boosted their target price on Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a research note on Thursday, August 21st. Mizuho raised their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. William Blair upgraded Medtronic to a “hold” rating in a research note on Friday, July 11th. Leerink Partners started coverage on Medtronic in a research report on Monday, June 16th. They set an “outperform” rating and a $110.00 target price for the company. Finally, Leerink Partnrs raised Medtronic to a “strong-buy” rating in a report on Monday, June 16th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.41.

Insiders Place Their Bets

In related news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, the executive vice president directly 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 disclosure for this sale can be found here. 0.26% of the stock is 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.