Maple Capital Management Inc. Has $407,000 Stock Holdings in Medtronic PLC $MDT

Maple Capital Management Inc. grew its position in Medtronic PLC (NYSE:MDT) by 54.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,667 shares of the medical technology company’s stock after buying an additional 1,652 shares during the period. Maple Capital Management Inc.’s holdings in Medtronic were worth $407,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MDT. Legacy Advisory Services LLC bought a new position in shares of Medtronic during the first quarter worth $541,000. GC Wealth Management RIA LLC raised its stake in Medtronic by 20.6% during the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after buying an additional 5,734 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Medtronic by 22.0% during the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after acquiring an additional 5,296 shares in the last quarter. World Investment Advisors grew its stake in Medtronic by 1.9% in the second quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock valued at $13,608,000 after acquiring an additional 2,868 shares during the period. Finally, Sivik Global Healthcare LLC increased its holdings in shares of Medtronic by 6.7% in the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock worth $6,974,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MDT. UBS Group raised their target price on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. 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. Truist Financial lifted their price target on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Daiwa Capital Markets increased their price objective on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $111.00 target price on shares of Medtronic in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were 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 of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.26% of the stock is owned by insiders.

Medtronic Trading Up 2.9%

NYSE MDT opened at $95.32 on Wednesday. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average of $94.24 and a 200-day moving average of $90.18. The company has a market cap of $122.27 billion, a PE ratio of 26.26, a PEG ratio of 2.42 and a beta of 0.77.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The company’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. On average, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s dividend payout ratio is 78.24%.

Medtronic 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.