Willis Investment Counsel Raises Stock Holdings in Medtronic PLC $MDT

Willis Investment Counsel lifted its holdings in Medtronic PLC (NYSE:MDT) by 8.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 382,676 shares of the medical technology company’s stock after purchasing an additional 30,138 shares during the quarter. Medtronic accounts for approximately 2.0% of Willis Investment Counsel’s investment portfolio, making the stock its 12th largest position. Willis Investment Counsel’s holdings in Medtronic were worth $33,358,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. ABN AMRO Bank N.V. bought a new position in Medtronic during the second quarter valued at $5,098,000. Handelsbanken Fonder AB lifted its holdings in shares of Medtronic by 5.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 616,024 shares of the medical technology company’s stock valued at $53,699,000 after acquiring an additional 31,175 shares during the last quarter. Auxano Advisors LLC grew its position in Medtronic by 5.0% in the second quarter. Auxano Advisors LLC now owns 16,548 shares of the medical technology company’s stock worth $1,442,000 after acquiring an additional 783 shares in the last quarter. Howe & Rusling Inc. bought a new stake in Medtronic during the second quarter worth approximately $5,331,000. Finally, EFG Asset Management Americas Corp. raised its position in Medtronic by 5.3% during the second quarter. EFG Asset Management Americas Corp. now owns 24,877 shares of the medical technology company’s stock valued at $2,169,000 after purchasing an additional 1,262 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.0%

Shares of MDT opened at $99.36 on Friday. The firm has a fifty day moving average price of $94.90 and a 200-day moving average price of $90.76. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $127.45 billion, a P/E ratio of 27.37, a P/E/G ratio of 2.42 and a beta of 0.77. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $102.59.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The company had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a report on Wednesday, October 8th. Citigroup raised their price target on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Truist Financial lifted their price objective on shares of Medtronic from $103.00 to $110.00 and gave the stock a “hold” rating in a research note on Thursday. Royal Bank Of Canada boosted their price objective on shares of Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Cowen restated a “buy” rating on shares of Medtronic in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $109.72.

Insider Activity at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.