TD Asset Management Inc Has $102.34 Million Position in Medtronic PLC $MDT

Key Points

• TD Asset Management Inc reduced its stake in Medtronic PLC by 8.7% in Q2, holding approximately 1.17 million shares valued at $102.34 million.
• Medtronic reported a quarterly EPS of $1.26, surpassing analyst expectations, with Q2 revenues increasing by 7.7% year-over-year to $8.58 billion.
• The company announced a quarterly dividend of $0.71, which represents an annualized yield of 2.9%, set to be paid on October 17th.

TD Asset Management Inc lowered its position in Medtronic PLC (NYSE:MDT - Free Report) by 8.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,173,984 shares of the medical technology company's stock after selling 111,195 shares during the quarter. TD Asset Management Inc owned 0.09% of Medtronic worth $102,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in MDT. Boston Partners boosted its holdings in Medtronic by 122.8% in the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock valued at $619,460,000 after acquiring an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock valued at $1,391,141,000 after acquiring an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock valued at $903,915,000 after acquiring an additional 3,017,849 shares during the last quarter. Nuveen LLC bought a new stake in Medtronic in the first quarter valued at approximately $260,649,000. Finally, Mackenzie Financial Corp boosted its holdings in Medtronic by 220.9% in the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company's stock valued at $216,753,000 after acquiring an additional 1,660,357 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Price Performance

Shares of MDT opened at $96.56 on Wednesday. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The business's fifty day moving average is $93.82 and its 200 day moving average is $88.85. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The stock has a market cap of $123.86 billion, a P/E ratio of 26.60, a P/E/G ratio of 2.52 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same period last year, the business earned $1.23 EPS. Medtronic's quarterly 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. Sell-side 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. Investors of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Insiders Place Their Bets

In related news, 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 value of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares in the company, valued at $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 available at this link. Also, Director William R. Jellison bought 2,500 shares of the business's 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 in the company, valued at $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 company insiders.

Analyst Ratings Changes

Several analysts recently commented on MDT shares. Wells Fargo & Company upped their target price on Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Citigroup increased their price target on Medtronic from $101.00 to $112.00 and gave the stock a "buy" rating in a report on Tuesday, October 7th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Finally, Mizuho increased their price target on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $102.41.

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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