Ferguson Wellman Capital Management Inc. Buys 2,930 Shares of Medtronic PLC $MDT

Key Points

• Ferguson Wellman Capital Management Inc. increased its stake in Medtronic PLC by 2.7%, acquiring an additional 2,930 shares, bringing its total holdings to 113,043 shares valued at approximately $9.85 million.
• Medtronic has received various ratings from analysts, including a "strong-buy" rating from Leerink Partners, while the consensus rating among analysts is a "Moderate Buy" with an average target price of $102.27.
• The company declared a quarterly dividend of $0.71, reflecting a 3.0% dividend yield, with the payment scheduled for October 17th to stockholders of record on September 26th.

Ferguson Wellman Capital Management Inc. lifted its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,043 shares of the medical technology company's stock after purchasing an additional 2,930 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Medtronic were worth $9,854,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MDT. Burkett Financial Services LLC raised its holdings in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares during the period. 1248 Management LLC acquired a new stake in shares of Medtronic during the first quarter worth $26,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Medtronic during the fourth quarter worth $27,000. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic during the first quarter worth $28,000. Finally, Twin Tree Management LP acquired a new stake in shares of Medtronic during the first quarter worth $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MDT shares. 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. Morgan Stanley reaffirmed an "overweight" rating and set a $107.00 target price (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Sanford C. Bernstein lifted their target price on shares of Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Argus boosted their price objective on shares of Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Finally, Daiwa Capital Markets boosted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $102.27.

Insider Buying and Selling at Medtronic

In other news, Director William R. Jellison acquired 2,500 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Medtronic Trading Up 0.2%

NYSE MDT traded up $0.15 on Monday, hitting $95.23. The company's stock had a trading volume of 2,257,998 shares, compared to its average volume of 7,607,601. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The company's 50-day moving average is $92.05 and its 200 day moving average is $88.29. The firm has a market cap of $122.15 billion, a PE ratio of 26.24, a PEG ratio of 2.50 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. During the same period in the prior year, the company posted $1.23 EPS. 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. As a group, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic's dividend payout ratio is 78.24%.

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.