Medtronic PLC $MDT Shares Purchased by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,420 shares of the medical technology company’s stock after purchasing an additional 956 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in Medtronic were worth $9,712,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Patrick M Sweeney & Associates Inc. lifted its stake in Medtronic by 2.9% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 7,154 shares of the medical technology company’s stock valued at $632,000 after buying an additional 200 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Medtronic by 1.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 162,624 shares of the medical technology company’s stock valued at $14,176,000 after purchasing an additional 2,313 shares in the last quarter. Elevation Point Wealth Partners LLC increased its holdings in Medtronic by 3.6% in the second quarter. Elevation Point Wealth Partners LLC now owns 15,842 shares of the medical technology company’s stock worth $1,381,000 after buying an additional 551 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Medtronic by 27.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 15,185 shares of the medical technology company’s stock worth $1,324,000 after purchasing an additional 3,267 shares during the last quarter. Finally, Vinva Investment Management Ltd raised its holdings in Medtronic by 44.0% during the second quarter. Vinva Investment Management Ltd now owns 113,371 shares of the medical technology company’s stock valued at $9,752,000 after buying an additional 34,663 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Cowen reissued a “buy” rating on shares of Medtronic in a research report on Friday, November 14th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research note on Friday, November 14th. Leerink Partners set a $120.00 price objective on Medtronic and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $109.72.

Insider Activity at Medtronic

In other Medtronic news, 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 transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Down 0.2%

Medtronic stock opened at $105.13 on Friday. The company has a market cap of $134.85 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The company has a fifty day simple moving average of $95.87 and a 200 day simple moving average of $91.48. 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 PLC has a 1-year low of $79.29 and a 1-year high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the firm posted $1.26 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

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.