Medtronic PLC $MDT Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC cut its stake in shares of Medtronic PLC (NYSE:MDT) by 3.0% during the second quarter, HoldingsChannel.com reports. The firm owned 154,893 shares of the medical technology company’s stock after selling 4,834 shares during the period. Moran Wealth Management LLC’s holdings in Medtronic were worth $13,502,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cornerstone Wealth Group LLC acquired a new position in shares of Medtronic during the 2nd quarter worth $275,000. NorthRock Partners LLC grew its stake in shares of Medtronic by 16.3% during the 2nd quarter. NorthRock Partners LLC now owns 13,417 shares of the medical technology company’s stock worth $1,175,000 after purchasing an additional 1,883 shares during the period. Verdence Capital Advisors LLC grew its stake in shares of Medtronic by 22.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after purchasing an additional 5,296 shares during the period. Endowment Wealth Management Inc. grew its stake in Medtronic by 5.5% in the 2nd quarter. Endowment Wealth Management Inc. now owns 2,879 shares of the medical technology company’s stock valued at $251,000 after acquiring an additional 149 shares during the last quarter. Finally, Westchester Capital Management Inc. grew its stake in Medtronic by 0.5% in the 2nd quarter. Westchester Capital Management Inc. now owns 98,954 shares of the medical technology company’s stock valued at $8,626,000 after acquiring an additional 500 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on MDT. Citigroup increased their price objective on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. UBS Group increased their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Wells Fargo & Company increased their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Robert W. Baird increased their price objective on shares of Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Finally, Argus increased their price objective on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. One 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.41.

Insider Transactions at Medtronic

In other news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Price Performance

NYSE:MDT opened at $95.63 on Tuesday. The firm has a market cap of $122.66 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. 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 company’s 50-day moving average is $93.68 and its two-hundred day moving average is $88.80. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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

About Medtronic

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.