Stockman Wealth Management Inc. Has $10.33 Million Stock Position in Medtronic PLC $MDT

Key Points

• Stockman Wealth Management Inc. increased its stake in Medtronic PLC by 4.0% during the second quarter, owning 118,492 shares, which amounts to approximately $10.33 million.
• Insider activity included Director William R. Jellison purchasing 2,500 shares, boosting his ownership by 100%, while EVP Harry Skip Kiil sold 8,605 shares, reducing his ownership by 19.46%.
• Medtronic reported quarterly earnings of $1.26 per share, exceeding estimates, and announced a quarterly dividend of $0.71 per share, with a yield of 3.0% expected to be paid on October 17th.

Stockman Wealth Management Inc. raised its stake in Medtronic PLC (NYSE:MDT - Free Report) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,492 shares of the medical technology company's stock after purchasing an additional 4,515 shares during the quarter. Medtronic accounts for about 1.4% of Stockman Wealth Management Inc.'s portfolio, making the stock its 29th biggest position. Stockman Wealth Management Inc.'s holdings in Medtronic were worth $10,329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Medtronic by 0.7% in the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock worth $11,233,780,000 after purchasing an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Medtronic by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock worth $2,001,903,000 after purchasing an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Medtronic by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock worth $1,858,332,000 after purchasing an additional 756,192 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock worth $1,708,220,000 after purchasing an additional 566,155 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Medtronic by 9.9% in the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock worth $1,525,876,000 after purchasing an additional 1,535,308 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Medtronic

In related news, Director William R. Jellison purchased 2,500 shares of the business's stock in a transaction dated Monday, August 25th. The stock was 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 directly owned 5,000 shares of the company's stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the transaction, the executive vice president directly owned 35,615 shares of the company's stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Price Performance

Shares of NYSE MDT opened at $94.34 on Friday. The stock has a fifty day simple moving average of $92.57 and a two-hundred day simple moving average of $88.38. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The firm has a market cap of $121.01 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the company earned $1.23 earnings per share. Medtronic's revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MDT. UBS Group increased their price objective on Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. Leerink Partners assumed coverage on Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 target price for the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $107.00 target price (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, Argus upped their target price on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $102.27.

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.

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