Fifth Third Wealth Advisors LLC Sells 4,462 Shares of Medtronic PLC $MDT

Fifth Third Wealth Advisors LLC trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 16.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,729 shares of the medical technology company’s stock after selling 4,462 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Medtronic were worth $1,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. 1248 Management LLC bought a new position in shares of Medtronic during the first quarter worth $26,000. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic during the first quarter worth $28,000. Twin Tree Management LP acquired a new stake in shares of Medtronic during the first quarter worth $29,000. Activest Wealth Management raised its holdings in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new stake in shares of Medtronic during the first quarter worth $32,000. 82.06% of the stock is owned by institutional investors.

Insider Transactions at Medtronic

In related news, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average price 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 represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MDT. Citigroup raised their price objective on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday. Truist Financial raised their price objective on shares of Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a report on Thursday, August 21st. Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Daiwa Capital Markets lifted their price target on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, Mizuho lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. 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 given a Sell rating to the company. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average target price of $102.41.

Medtronic Stock Down 1.0%

Medtronic stock opened at $95.52 on Friday. The firm has a market capitalization of $122.52 billion, a PE ratio of 26.31, a P/E/G ratio of 2.51 and a beta of 0.78. The company’s 50-day moving average is $93.56 and its 200-day moving average is $88.74. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

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

Medtronic Announces Dividend

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

Medtronic Company 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.