Hodges Capital Management Inc. Lowers Position in Medtronic PLC $MDT

Hodges Capital Management Inc. trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 43.8% during the second quarter, HoldingsChannel reports. The fund owned 4,865 shares of the medical technology company’s stock after selling 3,798 shares during the quarter. Hodges Capital Management Inc.’s holdings in Medtronic were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Gilbert & Cook Inc. raised its position in Medtronic by 1.9% in the second quarter. Gilbert & Cook Inc. now owns 6,103 shares of the medical technology company’s stock worth $532,000 after acquiring an additional 114 shares in the last quarter. Red Spruce Capital LLC grew its stake in shares of Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after purchasing an additional 118 shares during the period. Certior Financial Group LLC increased its holdings in shares of Medtronic by 3.7% in the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after purchasing an additional 122 shares in the last quarter. PrairieView Partners LLC lifted its stake in shares of Medtronic by 3.6% in the second quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock valued at $324,000 after purchasing an additional 128 shares during the period. Finally, Motco boosted its holdings in Medtronic by 27.0% during the first quarter. Motco now owns 635 shares of the medical technology company’s stock worth $57,000 after buying an additional 135 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of NYSE:MDT opened at $92.69 on Tuesday. The business’s fifty day moving average price is $94.20 and its two-hundred day moving average price is $90.11. The stock has a market cap of $118.89 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. 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 one year low of $79.29 and a one year high of $99.37.

Medtronic (NYSE:MDT) last released its quarterly 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. 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 analysts’ expectations of $8.37 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic’s payout ratio is presently 78.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Morgan Stanley restated an “overweight” rating and issued a $107.00 price target (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Stifel Nicolaus lifted their price objective on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Robert W. Baird boosted their target price on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $111.00 price target on shares of Medtronic in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $102.82.

Insider Transactions at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the business’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 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 $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.26% of the stock is currently owned by corporate insiders.

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.