Gilman Hill Asset Management LLC Grows Stock Holdings in Medtronic PLC $MDT

by · The Cerbat Gem

Gilman Hill Asset Management LLC increased its stake in shares of Medtronic PLC (NYSE:MDT – Free Report) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,948 shares of the medical technology company’s stock after buying an additional 246 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Medtronic were worth $3,744,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDT. Brighton Jones LLC grew its holdings in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after buying an additional 37,265 shares during the last quarter. State of Wyoming purchased a new stake in Medtronic in the 4th quarter valued at approximately $119,000. WBI Investments LLC boosted its holdings in Medtronic by 10.9% in the 4th quarter. WBI Investments LLC now owns 6,936 shares of the medical technology company’s stock valued at $554,000 after purchasing an additional 680 shares in the last quarter. Woodline Partners LP purchased a new stake in Medtronic in the 4th quarter valued at approximately $24,002,000. Finally, Waverly Advisors LLC boosted its holdings in Medtronic by 166.1% in the 4th quarter. Waverly Advisors LLC now owns 26,419 shares of the medical technology company’s stock valued at $2,110,000 after purchasing an additional 16,491 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.8%

Shares of Medtronic stock opened at $94.19 on Wednesday. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The firm has a market cap of $120.82 billion, a PE ratio of 25.95, a P/E/G ratio of 2.46 and a beta of 0.77. The business’s fifty day moving average is $91.72 and its two-hundred day moving average is $88.30. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the company posted $1.23 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Leerink Partners assumed coverage on Medtronic in a report on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective on the stock. Robert W. Baird lifted their price objective on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Mizuho lifted their price objective on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.14.

Get Our Latest Analysis on MDT

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the 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 of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

About Medtronic

(Free Report)

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.

See Also