Medtronic PLC $MDT Stake Boosted by Allied Investment Advisors LLC

Allied Investment Advisors LLC boosted its position in shares of Medtronic PLC (NYSE:MDT) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,192 shares of the medical technology company’s stock after acquiring an additional 2,780 shares during the period. Medtronic accounts for 1.8% of Allied Investment Advisors LLC’s investment portfolio, making the stock its 29th biggest holding. Allied Investment Advisors LLC’s holdings in Medtronic were worth $10,303,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MDT. Legacy Advisory Services LLC acquired a new position in Medtronic in the first quarter worth about $541,000. GC Wealth Management RIA LLC grew its stake in shares of Medtronic by 20.6% during the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after purchasing an additional 5,734 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Medtronic by 22.0% during the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after purchasing an additional 5,296 shares during the last quarter. RNC Capital Management LLC grew its stake in shares of Medtronic by 8.8% during the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock valued at $37,474,000 after purchasing an additional 33,729 shares during the last quarter. Finally, Sivik Global Healthcare LLC boosted its stake in Medtronic by 6.7% in the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock valued at $6,974,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $93.76 on Friday. The firm’s 50-day simple moving average is $94.32 and its two-hundred day simple moving average is $89.33. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. 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 has a market cap of $120.26 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 2.48 and a beta of 0.78.

Medtronic (NYSE:MDT) last posted its quarterly earnings results 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 company 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 company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Robert W. Baird increased their target price on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Evercore ISI lifted their price objective on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group upped their price objective on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Finally, Stifel Nicolaus upped their price target on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Activity

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at $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 the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company 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.