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

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its position in shares of Medtronic by 1,368.0% during 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 last quarter. Sivia Capital Partners LLC increased its holdings in Medtronic by 9.6% during the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after buying an additional 381 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in Medtronic by 11.4% during the second quarter. Concurrent Investment Advisors LLC now owns 52,948 shares of the medical technology company’s stock worth $4,615,000 after acquiring an additional 5,408 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Medtronic by 6.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 120,034 shares of the medical technology company’s stock valued at $10,464,000 after acquiring an additional 7,643 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Medtronic by 2.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,176,171 shares of the medical technology company’s stock valued at $104,385,000 after acquiring an additional 27,055 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MDT. UBS Group reaffirmed a “neutral” rating and issued a $104.00 target price on shares of Medtronic in a report on Wednesday, February 4th. Jefferies Financial Group reissued a “hold” rating and set a $110.00 price target on shares of Medtronic in a research report on Wednesday, November 19th. Leerink Partners set a $120.00 price objective on Medtronic and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Citigroup initiated coverage on Medtronic in a research note on Tuesday, February 3rd. They set a “buy” rating and a $117.00 target price for the company. Finally, Daiwa Securities Group increased their price target on Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Sixteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.21.

Medtronic Price Performance

Shares of NYSE MDT opened at $101.69 on Tuesday. The firm has a market cap of $130.37 billion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.71. The business’s 50 day moving average is $99.37 and its 200-day moving average is $96.22. 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 1-year low of $79.55 and a 1-year high of $106.33.

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. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The business had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the company posted $1.26 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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