Boston Trust Walden Corp Has $12.01 Million Stock Position in Medtronic PLC $MDT

Key Points

• Boston Trust Walden Corp has decreased its stake in Medtronic PLC by 2.6%, now holding 137,744 shares valued at approximately $12.01 million.
• Medtronic reported earnings of $1.26 per share for the quarter, exceeding estimates, and a revenue of $8.58 billion, representing a year-over-year increase of 7.7%.
• The company declared a quarterly dividend of $0.71 per share, with the ex-dividend date set for September 26th, contributing to an annualized yield of 2.9%.

Boston Trust Walden Corp trimmed its position in Medtronic PLC (NYSE:MDT - Free Report) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 137,744 shares of the medical technology company's stock after selling 3,645 shares during the quarter. Boston Trust Walden Corp's holdings in Medtronic were worth $12,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after buying an additional 37,265 shares during the period. GAMMA Investing LLC grew its position in shares of Medtronic by 41.1% during the 1st quarter. GAMMA Investing LLC now owns 15,882 shares of the medical technology company's stock worth $1,427,000 after buying an additional 4,626 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Medtronic by 11.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 531,059 shares of the medical technology company's stock worth $47,721,000 after buying an additional 53,340 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Medtronic during the 1st quarter worth about $850,000. Finally, Sagespring Wealth Partners LLC grew its position in shares of Medtronic by 27.1% during the 1st quarter. Sagespring Wealth Partners LLC now owns 22,478 shares of the medical technology company's stock worth $2,020,000 after buying an additional 4,794 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on MDT. BTIG Research restated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Wells Fargo & Company boosted their target price on Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. The Goldman Sachs Group decreased their price objective on Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a research report on Wednesday, October 1st. Finally, Robert W. Baird boosted their price objective on Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and a consensus price target of $102.41.

Medtronic Trading Up 1.0%

NYSE MDT opened at $96.56 on Wednesday. The stock has a market capitalization of $123.86 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 2.52 and a beta of 0.78. The stock's 50 day moving average price is $93.82 and its two-hundred day moving average price is $88.85. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37.

Medtronic (NYSE:MDT - Get Free Report) last released 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. The firm had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic's payout ratio is presently 78.24%.

Insider Activity at Medtronic

In other news, Director William R. Jellison bought 2,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were purchased at an average price 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. The trade was a 100.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction that occurred 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 represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 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.

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.