Colrain Capital LLC Has $3.10 Million Position in Medtronic PLC $MDT

Colrain Capital LLC reduced its holdings in Medtronic PLC (NYSE:MDT) by 9.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 35,240 shares of the medical technology company’s stock after selling 3,560 shares during the quarter. Medtronic accounts for approximately 2.4% of Colrain Capital LLC’s portfolio, making the stock its 19th largest position. Colrain Capital LLC’s holdings in Medtronic were worth $3,097,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MDT. Legacy Advisory Services LLC bought a new stake in Medtronic in the first quarter valued at approximately $541,000. GC Wealth Management RIA LLC increased its stake in Medtronic by 20.6% in 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 in the last quarter. Verdence Capital Advisors LLC increased its stake in Medtronic by 22.0% in 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 in the last quarter. World Investment Advisors increased its stake in Medtronic by 1.9% in the second quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock valued at $13,608,000 after purchasing an additional 2,868 shares in the last quarter. Finally, Sivik Global Healthcare LLC increased 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 purchasing an additional 5,000 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent analyst reports. Argus upped their target price on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $98.00 target price on shares of Medtronic in a research note on Friday. William Blair raised shares of Medtronic to a “hold” rating in a research report on Friday, July 11th. Finally, Daiwa Capital Markets boosted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.82.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction 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 transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.26% of the stock is currently owned by company insiders.

Medtronic Price Performance

Shares of NYSE MDT opened at $90.82 on Friday. The firm has a market cap of $116.49 billion, a PE ratio of 25.02, a PEG ratio of 2.42 and a beta of 0.78. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The company has a fifty day moving average price of $94.35 and a 200 day moving average price of $89.72.

Medtronic (NYSE:MDT) last announced 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 firm 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%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm 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 of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is 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.