Moors & Cabot Inc. Sells 2,178 Shares of Medtronic PLC $MDT

Moors & Cabot Inc. lowered its position in Medtronic PLC (NYSE:MDT) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,356 shares of the medical technology company’s stock after selling 2,178 shares during the quarter. Moors & Cabot Inc.’s holdings in Medtronic were worth $5,174,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Equity Investment Corp increased its holdings in shares of Medtronic by 2.8% in the second quarter. Equity Investment Corp now owns 1,497,983 shares of the medical technology company’s stock worth $130,579,000 after purchasing an additional 41,012 shares during the period. Ellevest Inc. grew its position in Medtronic by 3.2% in the second quarter. Ellevest Inc. now owns 6,652 shares of the medical technology company’s stock worth $580,000 after acquiring an additional 207 shares in the last quarter. NewSquare Capital LLC grew its position in Medtronic by 71.5% in the second quarter. NewSquare Capital LLC now owns 657 shares of the medical technology company’s stock worth $57,000 after acquiring an additional 274 shares in the last quarter. Huntington National Bank grew its position in Medtronic by 9.7% in the second quarter. Huntington National Bank now owns 169,388 shares of the medical technology company’s stock worth $14,766,000 after acquiring an additional 14,998 shares in the last quarter. Finally, Bridgewater Advisors Inc. grew its position in Medtronic by 6.1% in the second quarter. Bridgewater Advisors Inc. now owns 2,866 shares of the medical technology company’s stock worth $265,000 after acquiring an additional 165 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In related news, Director William R. Jellison acquired 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’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 transaction of $788,045.90. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MDT shares. UBS Group upped their target price 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. Mizuho upped their target price 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 shares of Medtronic to a “hold” rating in a research report on Friday, July 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Finally, Truist Financial raised their price objective on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Stock Performance

Medtronic stock opened at $90.41 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average of $94.27 and a 200-day moving average of $89.88. The firm has a market cap of $115.96 billion, a P/E ratio of 24.91, a P/E/G ratio of 2.42 and a beta of 0.77. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion during 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%. Medtronic’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts expect that Medtronic PLC will post 5.46 EPS 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 3.1%. Medtronic’s dividend payout ratio (DPR) is 78.24%.

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.