RNC Capital Management LLC Has $37.47 Million Stock Holdings in Medtronic PLC $MDT

Key Points

• RNC Capital Management LLC increased its stake in Medtronic PLC by 8.8% during the first quarter, now holding 417,021 shares valued at $37.47 million.
• Medtronic has announced a quarterly dividend of $0.71, with a payment date set for October 17th, which represents an annual yield of 3.1% based on a payout ratio of 78.24%.
• Analysts maintain a positive outlook on Medtronic, with a consensus rating of "Moderate Buy" and a target price of $102.14, reflecting confidence in the company's prospects.

RNC Capital Management LLC raised its stake in Medtronic PLC (NYSE:MDT - Free Report) by 8.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,021 shares of the medical technology company's stock after acquiring an additional 33,729 shares during the period. Medtronic makes up about 1.9% of RNC Capital Management LLC's portfolio, making the stock its 27th biggest holding. RNC Capital Management LLC's holdings in Medtronic were worth $37,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of MDT. Certior Financial Group LLC boosted its holdings in Medtronic by 3.7% in the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock worth $310,000 after buying an additional 122 shares during the period. Dunhill Financial LLC lifted its stake in shares of Medtronic by 17.2% in the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after acquiring an additional 124 shares during the last quarter. Cidel Asset Management Inc. boosted its holdings in shares of Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after purchasing an additional 126 shares during the period. Petros Family Wealth LLC lifted its holdings in Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after buying an additional 127 shares during the period. Finally, Motco lifted its holdings in Medtronic by 27.0% in the first quarter. Motco now owns 635 shares of the medical technology company's stock worth $57,000 after buying an additional 135 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated 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 directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Jellison bought 2,500 shares of the business's stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.

Medtronic Price Performance

Shares of MDT opened at $92.93 on Monday. The stock has a market capitalization of $119.20 billion, a PE ratio of 25.60, a PEG ratio of 2.36 and a beta of 0.77. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The company has a 50 day moving average price of $90.97 and a 200-day moving average price of $88.14.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Medtronic's revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors 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 dividend on an annualized basis and a yield of 3.1%. Medtronic's dividend payout ratio (DPR) is 78.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MDT shares. Morgan Stanley reissued an "overweight" rating and set a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Royal Bank Of Canada reduced their price objective on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Wells Fargo & Company raised their target price on Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Evercore ISI lifted their target price on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Sanford C. Bernstein raised their target price on shares of Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $102.14.

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.

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