D.A. Davidson & CO. Purchases 3,652 Shares of Medtronic PLC $MDT

D.A. Davidson & CO. lifted its position in Medtronic PLC (NYSE:MDT) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 236,864 shares of the medical technology company’s stock after buying an additional 3,652 shares during the period. D.A. Davidson & CO.’s holdings in Medtronic were worth $20,647,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Red Spruce Capital LLC raised its holdings in Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after purchasing an additional 118 shares in the last quarter. Certior Financial Group LLC raised its holdings in Medtronic by 3.7% in the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after purchasing an additional 122 shares in the last quarter. Cidel Asset Management Inc. raised its holdings in Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock worth $856,000 after purchasing an additional 126 shares in the last quarter. Petros Family Wealth LLC raised its holdings in Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock worth $280,000 after purchasing an additional 127 shares in the last quarter. Finally, PrairieView Partners LLC raised its holdings in Medtronic by 3.6% in the second quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock worth $324,000 after purchasing an additional 128 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on MDT shares. Stifel Nicolaus boosted their target price on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Mizuho upped their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Finally, William Blair upgraded shares of Medtronic to a “hold” rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Insider Buying and Selling

In other news, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s 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 represents 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.

Medtronic Stock Performance

MDT opened at $95.84 on Wednesday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The company has a market cap of $122.93 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 2.53 and a beta of 0.78. The firm’s 50-day moving average price is $94.20 and its 200-day moving average price is $89.13.

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 firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company’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 company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Medtronic Company 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.