Grandfield & Dodd LLC Trims Stock Holdings in Medtronic PLC $MDT

Grandfield & Dodd LLC decreased its holdings in shares of Medtronic PLC (NYSE:MDT) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,456 shares of the medical technology company’s stock after selling 6,912 shares during the quarter. Grandfield & Dodd LLC’s holdings in Medtronic were worth $7,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in MDT. Brighton Jones LLC grew its holdings in 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 buying an additional 37,265 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Medtronic during the first quarter valued at approximately $325,000. Wealthfront Advisers LLC grew its stake in Medtronic by 38.7% during the first quarter. Wealthfront Advisers LLC now owns 86,005 shares of the medical technology company’s stock valued at $7,728,000 after acquiring an additional 24,000 shares in the last quarter. Sage Mountain Advisors LLC purchased a new stake in Medtronic in the 1st quarter worth approximately $266,000. Finally, Bridgewater Advisors Inc. bought a new position in Medtronic in the 1st quarter valued at $228,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MDT shares. Royal Bank Of Canada reissued an “outperform” rating and set a $111.00 price objective on shares of Medtronic in a research note on Friday, October 10th. Argus lifted their price objective on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. boosted their target price on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday. Stifel Nicolaus raised their price target on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $103.06.

Insider Activity

In other news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price 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 approximately $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.26% of the stock is owned by insiders.

Medtronic Price Performance

Shares of MDT stock opened at $96.12 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. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The firm has a market cap of $123.29 billion, a P/E ratio of 26.48, a P/E/G ratio of 2.42 and a beta of 0.77. The business’s 50 day moving average price is $94.37 and its 200-day moving average price is $90.26.

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 analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

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.