Paradigm Asset Management Co. LLC Takes Position in Medtronic PLC $MDT

Paradigm Asset Management Co. LLC acquired a new stake in Medtronic PLC (NYSE:MDT) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 17,900 shares of the medical technology company’s stock, valued at approximately $1,560,000.

Several other large investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Stratos Wealth Advisors LLC lifted its stake in Medtronic by 4.5% during the first quarter. Stratos Wealth Advisors LLC now owns 6,855 shares of the medical technology company’s stock valued at $616,000 after purchasing an additional 293 shares during the last quarter. Alps Advisors Inc. boosted its holdings in Medtronic by 1.1% during the first quarter. Alps Advisors Inc. now owns 27,427 shares of the medical technology company’s stock worth $2,465,000 after buying an additional 290 shares in the last quarter. Cerity Partners LLC grew its position in Medtronic by 122.1% in the first quarter. Cerity Partners LLC now owns 573,034 shares of the medical technology company’s stock worth $51,495,000 after buying an additional 315,066 shares during the last quarter. Finally, MJP Associates Inc. ADV increased its holdings in shares of Medtronic by 36.5% in the first quarter. MJP Associates Inc. ADV now owns 9,214 shares of the medical technology company’s stock valued at $828,000 after buying an additional 2,463 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was 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 of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction dated Monday, August 25th. The shares were bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MDT shares. Truist Financial raised their price objective on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. The Goldman Sachs Group cut their price objective on Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a report on Wednesday, October 1st. William Blair upgraded shares of Medtronic to a “hold” rating in a report on Friday, July 11th. Finally, Stifel Nicolaus lifted their target price on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Price Performance

Shares of MDT opened at $92.22 on Friday. 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 $118.29 billion, a PE ratio of 25.41, a PEG ratio of 2.42 and a beta of 0.77. The firm’s 50 day moving average price is $94.20 and its 200 day moving average price is $89.96. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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%. Medtronic’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, September 26th. 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.