Courier Capital LLC Has $3.65 Million Stock Position in Medtronic PLC $MDT

Courier Capital LLC lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,835 shares of the medical technology company’s stock after selling 1,221 shares during the period. Courier Capital LLC’s holdings in Medtronic were worth $3,647,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MDT. Vanguard Group Inc. grew its stake in Medtronic by 0.7% in the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock valued at $11,233,780,000 after acquiring an additional 810,854 shares during the period. Massachusetts Financial Services Co. MA grew its stake in 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 valued at $2,001,903,000 after acquiring an additional 1,461,841 shares during the period. Bank of New York Mellon Corp grew its stake in 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 valued at $1,858,332,000 after acquiring an additional 756,192 shares during the period. Deutsche Bank AG grew its stake in Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after acquiring an additional 566,155 shares during the period. Finally, Invesco Ltd. grew its stake in Medtronic by 9.9% in the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock valued at $1,525,876,000 after acquiring an additional 1,535,308 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $95.63 on Tuesday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The stock’s fifty day moving average price is $93.68 and its two-hundred day moving average price is $88.80. The firm has a market cap of $122.66 billion, a PE ratio of 26.34, a PEG ratio of 2.51 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

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

Medtronic Dividend Announcement

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

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction 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. The trade was a 19.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price 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 $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on MDT shares. Stifel Nicolaus raised their price objective on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Wolfe Research raised Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. Truist Financial lifted their target price on Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Robert W. Baird lifted their target price on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Finally, Argus lifted their target price on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.