IVC Wealth Advisors LLC Acquires 217 Shares of Medtronic PLC $MDT

IVC Wealth Advisors LLC raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 3.9% during the second quarter, HoldingsChannel reports. The fund owned 5,821 shares of the medical technology company’s stock after purchasing an additional 217 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Medtronic were worth $507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Boston Partners increased its holdings in shares of Medtronic by 122.8% in the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after purchasing an additional 3,809,450 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after purchasing an additional 3,461,221 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after purchasing an additional 3,017,849 shares during the period. Nuveen LLC bought a new position in shares of Medtronic in the first quarter worth $260,649,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Medtronic by 220.9% in the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after purchasing an additional 1,660,357 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 2.3%

Shares of NYSE:MDT opened at $97.63 on Friday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $97.94. The firm has a fifty day moving average of $92.94 and a 200 day moving average of $88.48. The firm has a market capitalization of $125.23 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.57 and a beta of 0.78. 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 (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the business posted $1.23 earnings per share. The company’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. As a group, research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio is presently 78.24%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a report on Saturday, September 27th. Wells Fargo & Company upped their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Morgan Stanley reaffirmed 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. William Blair raised shares of Medtronic to a “hold” rating in a report on Friday, July 11th. Finally, Citigroup upped their target price on shares of Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average price target of $100.94.

Insider Activity

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’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. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

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.