Crumly & Associates Inc. Buys 218 Shares of Medtronic PLC $MDT

Crumly & Associates Inc. grew its position in shares of Medtronic PLC (NYSE:MDT) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,063 shares of the medical technology company’s stock after acquiring an additional 218 shares during the period. Crumly & Associates Inc.’s holdings in Medtronic were worth $616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Advisory Services LLC bought a new position in shares of Medtronic during the first quarter valued at about $541,000. Commerce Bank raised its stake in shares of Medtronic by 1.7% during the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock valued at $13,118,000 after acquiring an additional 2,429 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after acquiring an additional 37,265 shares during the last quarter. RNC Capital Management LLC raised 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 acquiring an additional 33,729 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Medtronic by 23.3% during the first quarter. Integrated Wealth Concepts LLC now owns 52,162 shares of the medical technology company’s stock valued at $4,687,000 after acquiring an additional 9,868 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction 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 completion of the purchase, 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 disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MDT shares. Morgan Stanley reaffirmed an “overweight” rating and set a $107.00 price objective (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Truist Financial boosted their price target on shares of Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Sanford C. Bernstein boosted their price target on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. Finally, Citigroup boosted their price target on shares of Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $102.14.

Medtronic Trading Down 0.2%

NYSE:MDT opened at $94.05 on Friday. The company’s 50 day moving average price is $91.50 and its 200-day moving average price is $88.28. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25. 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 stock has a market cap of $120.64 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.48 and a beta of 0.77.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The company 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 firm’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 firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic’s dividend payout ratio 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.