Newman Dignan & Sheerar Inc. Sells 409 Shares of Medtronic PLC $MDT

Newman Dignan & Sheerar Inc. trimmed its holdings in Medtronic PLC (NYSE:MDT) by 2.8% in the 2nd quarter, Holdings Channel reports. The fund owned 13,960 shares of the medical technology company’s stock after selling 409 shares during the quarter. Newman Dignan & Sheerar Inc.’s holdings in Medtronic were worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares during the period. Fiduciary Alliance LLC increased its holdings in shares of Medtronic by 2.9% during the 1st quarter. Fiduciary Alliance LLC now owns 6,053 shares of the medical technology company’s stock worth $544,000 after purchasing an additional 169 shares during the period. Merit Financial Group LLC raised its position in shares of Medtronic by 78.2% during the first quarter. Merit Financial Group LLC now owns 41,474 shares of the medical technology company’s stock valued at $3,727,000 after buying an additional 18,204 shares during the last quarter. Fulton Bank N.A. lifted its stake in shares of Medtronic by 34.2% in the first quarter. Fulton Bank N.A. now owns 10,800 shares of the medical technology company’s stock valued at $970,000 after buying an additional 2,755 shares during the period. Finally, RFG Advisory LLC grew its position in Medtronic by 6.1% during the first quarter. RFG Advisory LLC now owns 25,974 shares of the medical technology company’s stock worth $2,334,000 after buying an additional 1,482 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MDT. 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. Evercore ISI boosted their price objective on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Truist Financial raised their target price on Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a research report on Thursday, August 21st. Leerink Partners started coverage on shares of Medtronic in a research note on Monday, June 16th. They set an “outperform” rating and a $110.00 price target on the stock. Finally, Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.27.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $94.85 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The business’s fifty day moving average price is $92.78 and its two-hundred day moving average price is $88.45. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The stock has a market capitalization of $121.66 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 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 company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company earned $1.23 EPS. The firm’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. As a group, analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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 issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of Medtronic 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 purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.

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.