Seelaus Asset Management LLC Increases Stock Position in Medtronic PLC $MDT

Seelaus Asset Management LLC boosted its position in Medtronic PLC (NYSE:MDT) by 14.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,430 shares of the medical technology company’s stock after purchasing an additional 700 shares during the period. Seelaus Asset Management LLC’s holdings in Medtronic were worth $473,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. 1248 Management LLC purchased a new stake in shares of Medtronic during the first quarter valued at approximately $26,000. Twin Tree Management LP bought a new position in Medtronic in the 1st quarter valued at $29,000. Activest Wealth Management grew its stake in Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares during the period. Hughes Financial Services LLC purchased a new stake in shares of Medtronic during the 1st quarter valued at $32,000. Finally, Investment Management Corp VA ADV raised its stake in shares of Medtronic by 144.2% during the 1st quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock worth $36,000 after purchasing an additional 238 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the subject of several research reports. BTIG Research restated a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Citigroup upped their price objective on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Mizuho raised their target price on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Finally, Truist Financial increased their price target on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.82.

Medtronic Stock Down 0.2%

Shares of NYSE MDT opened at $90.82 on Monday. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The company 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. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The business has a 50-day simple moving average of $94.35 and a two-hundred day simple moving average of $89.77.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to analysts’ expectations 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. Research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, September 26th. Medtronic’s payout ratio is 78.24%.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.26% of the company’s stock.

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.