Reynders McVeigh Capital Management LLC Reduces Position in Medtronic PLC $MDT

Reynders McVeigh Capital Management LLC decreased its holdings in Medtronic PLC (NYSE:MDT) by 95.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,501 shares of the medical technology company’s stock after selling 195,951 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Medtronic were worth $828,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Lavaca Capital LLC raised its holdings in shares of Medtronic by 40.7% during the second quarter. Lavaca Capital LLC now owns 692 shares of the medical technology company’s stock valued at $60,000 after purchasing an additional 200 shares during the last quarter. Cypress Capital Advisors LLC grew its position in Medtronic by 56.2% in the 2nd quarter. Cypress Capital Advisors LLC now owns 10,897 shares of the medical technology company’s stock worth $950,000 after purchasing an additional 3,919 shares during the period. Orion Porfolio Solutions LLC raised its stake in Medtronic by 4.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 94,876 shares of the medical technology company’s stock valued at $8,270,000 after buying an additional 3,856 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in Medtronic during the 2nd quarter valued at $1,302,000. Finally, Cim Investment Management Inc. lifted its holdings in shares of Medtronic by 99.6% during the 2nd quarter. Cim Investment Management Inc. now owns 15,675 shares of the medical technology company’s stock valued at $1,309,000 after buying an additional 7,822 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on MDT shares. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a report on Friday, November 14th. Stifel Nicolaus raised their target price on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. UBS Group upped their price target on shares of Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Royal Bank Of Canada increased their price objective on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Finally, Barclays boosted their target price on shares of Medtronic from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $110.44.

Medtronic Trading Up 0.1%

Medtronic stock opened at $99.86 on Monday. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $106.33. The firm has a market capitalization of $128.02 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 2.63 and a beta of 0.71. The firm has a 50 day moving average of $97.27 and a 200 day moving average of $92.96. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The business had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.8%. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

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.