GRIMES & Co WEALTH MANAGEMENT LLC Has $18.07 Million Holdings in Medtronic PLC $MDT

GRIMES & Co WEALTH MANAGEMENT LLC cut its position in shares of Medtronic PLC (NYSE:MDT) by 7.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,742 shares of the medical technology company’s stock after selling 16,083 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Medtronic were worth $18,071,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares during the period. Wesbanco Bank Inc. lifted its holdings in shares of Medtronic by 5.0% in the second quarter. Wesbanco Bank Inc. now owns 18,476 shares of the medical technology company’s stock valued at $1,611,000 after purchasing an additional 882 shares in the last quarter. Red Spruce Capital LLC lifted its holdings in shares of Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after purchasing an additional 118 shares in the last quarter. Gradient Investments LLC boosted its position in shares of Medtronic by 0.6% in the second quarter. Gradient Investments LLC now owns 451,679 shares of the medical technology company’s stock worth $39,373,000 after buying an additional 2,579 shares during the period. Finally, Bard Financial Services Inc. grew its holdings in shares of Medtronic by 8.8% during the second quarter. Bard Financial Services Inc. now owns 37,260 shares of the medical technology company’s stock valued at $3,248,000 after buying an additional 3,025 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MDT. JPMorgan Chase & Co. increased their price objective on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Citigroup upped their target price on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. Stifel Nicolaus boosted their price objective on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Finally, Sanford C. Bernstein increased their target price on shares of Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $110.28.

Medtronic Trading Down 0.6%

NYSE:MDT opened at $96.92 on Tuesday. The company has a market capitalization of $124.26 billion, a P/E ratio of 26.13, a P/E/G ratio of 2.57 and a beta of 0.71. The stock’s 50 day moving average price is $98.44 and its 200 day moving average price is $94.65. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.31 by $0.05. The company had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, December 26th. Medtronic’s dividend payout ratio is presently 76.55%.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).