SPC Financial Inc. Increases Holdings in Medtronic PLC $MDT

SPC Financial Inc. raised its stake in shares of Medtronic PLC (NYSE:MDT) by 6.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,234 shares of the medical technology company’s stock after buying an additional 696 shares during the quarter. SPC Financial Inc.’s holdings in Medtronic were worth $1,066,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of 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 worth $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% in the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock worth $1,858,332,000 after purchasing an additional 756,192 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock worth $1,708,220,000 after purchasing an additional 566,155 shares during the last quarter. Finally, Invesco Ltd. raised 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 purchasing an additional 1,535,308 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity

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

Medtronic Stock Down 1.0%

Medtronic stock opened at $95.52 on Friday. The stock has a market cap 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 company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The stock has a fifty day moving average of $93.56 and a 200 day moving average of $88.74.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.Medtronic’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MDT. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Stifel Nicolaus boosted their price target on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday. Leerink Partnrs upgraded Medtronic to a “strong-buy” rating in a research note on Monday, June 16th. Truist Financial boosted their price target on Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a research note on Thursday, August 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $102.41.

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.