Nicholas Company Inc. Sells 34,810 Shares of Medtronic PLC $MDT

Nicholas Company Inc. decreased its holdings in shares of Medtronic PLC (NYSE:MDT) by 33.7% in the second quarter, Holdings Channel reports. The firm owned 68,625 shares of the medical technology company’s stock after selling 34,810 shares during the quarter. Nicholas Company Inc.’s holdings in Medtronic were worth $5,982,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. lifted its stake in Medtronic by 1.9% during the second quarter. Gilbert & Cook Inc. now owns 6,103 shares of the medical technology company’s stock worth $532,000 after purchasing an additional 114 shares during the period. Red Spruce Capital LLC lifted its stake in Medtronic by 0.5% during the second 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 lifted its stake in Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after purchasing an additional 122 shares during the period. PrairieView Partners LLC lifted its stake in Medtronic by 3.6% during the second quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock worth $324,000 after purchasing an additional 128 shares during the period. Finally, Motco increased its holdings in shares of 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. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $90.82 on Friday. 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 firm has a market cap of $116.49 billion, a P/E ratio of 25.02, a P/E/G ratio of 2.42 and a beta of 0.78. The firm has a 50 day simple moving average of $94.35 and a 200 day simple moving average of $89.72. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37.

Medtronic (NYSE:MDT) last issued its quarterly earnings results 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 business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. Medtronic’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Insider Buying and Selling

In related news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’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 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 approximately $3,261,621.70. This represents a 19.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $98.00 price objective on shares of Medtronic in a report on Friday. The Goldman Sachs Group dropped their price objective on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a report on Wednesday, October 1st. Robert W. Baird raised their price objective on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Truist Financial raised their price objective on shares of Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

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.