Kimelman & Baird LLC Buys 29,978 Shares of Medtronic PLC $MDT

Kimelman & Baird LLC grew its stake in shares of Medtronic PLC (NYSE:MDT) by 21.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,969 shares of the medical technology company’s stock after acquiring an additional 29,978 shares during the quarter. Medtronic comprises about 1.3% of Kimelman & Baird LLC’s investment portfolio, making the stock its 26th biggest holding. Kimelman & Baird LLC’s holdings in Medtronic were worth $16,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MDT. CIBC Private Wealth Group LLC lifted its position in Medtronic by 5.2% during the third quarter. CIBC Private Wealth Group LLC now owns 551,349 shares of the medical technology company’s stock valued at $52,510,000 after purchasing an additional 27,477 shares during the period. Burkett Financial Services LLC grew its position in Medtronic by 52.6% in the 3rd quarter. Burkett Financial Services LLC now owns 435 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 150 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Medtronic during the 3rd quarter valued at $16,835,000. Oarsman Capital Inc. lifted its holdings in shares of Medtronic by 2.2% during the 3rd quarter. Oarsman Capital Inc. now owns 33,537 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 711 shares during the period. Finally, WBI Investments LLC boosted its stake in shares of Medtronic by 17.0% in the 3rd quarter. WBI Investments LLC now owns 3,358 shares of the medical technology company’s stock worth $320,000 after buying an additional 489 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of NYSE:MDT opened at $88.50 on Wednesday. The company has a market capitalization of $113.62 billion, a P/E ratio of 24.65, a P/E/G ratio of 2.26 and a beta of 0.71. Medtronic PLC has a 1-year low of $79.55 and a 1-year high of $106.33. The firm’s 50 day simple moving average is $97.54 and its two-hundred day simple moving average is $96.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same period in the prior year, the company posted $1.38 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be paid a $0.71 dividend. The ex-dividend date is Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.2%. Medtronic’s payout ratio is presently 79.11%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the transaction, the executive vice president owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This represents a 61.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MDT. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Robert W. Baird reduced their price target on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research note on Monday, December 29th. Citigroup started coverage on shares of Medtronic in a report on Tuesday, February 3rd. They issued a “buy” rating and a $117.00 price objective on the stock. Finally, Mizuho upgraded shares of Medtronic to a “strong-buy” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.74.

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).