Johnson Investment Counsel Inc. Sells 5,920 Shares of Medtronic PLC $MDT

Johnson Investment Counsel Inc. lowered its position in shares of Medtronic PLC (NYSE:MDT) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 590,276 shares of the medical technology company’s stock after selling 5,920 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Medtronic were worth $56,218,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MDT. Riverbend Wealth Management LLC lifted its holdings in Medtronic by 3.2% in the third quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after buying an additional 107 shares during the period. Wynn Capital LLC lifted its stake in shares of Medtronic by 2.4% in the 3rd quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock valued at $442,000 after purchasing an additional 110 shares during the period. Meridian Investment Counsel Inc. boosted its position in shares of Medtronic by 0.4% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock worth $2,692,000 after purchasing an additional 110 shares during the last quarter. Saxony Capital Management LLC grew its stake in shares of Medtronic by 3.8% during the third quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock worth $290,000 after purchasing an additional 112 shares during the period. Finally, Cape Investment Advisory Inc. grew its stake in shares of Medtronic by 3.2% during the second quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock worth $314,000 after purchasing an additional 113 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $111.00 target price on Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Wells Fargo & Company started coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an “overweight” rating and a $114.00 target price for the company. Needham & Company LLC upgraded shares of Medtronic from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Monday. Finally, Barclays boosted their price target on shares of Medtronic from $111.00 to $116.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Sixteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.21.

Medtronic Trading Down 1.2%

MDT opened at $101.69 on Tuesday. The stock has a market capitalization of $130.37 billion, a P/E ratio of 27.41, a P/E/G ratio of 2.71 and a beta of 0.71. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12 month low of $79.55 and a 12 month high of $106.33. The firm’s fifty day simple moving average is $99.37 and its 200 day simple moving average is $96.22.

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

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

About Medtronic

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).