Transcend Capital Advisors LLC Sells 28,606 Shares of Medtronic PLC $MDT

Transcend Capital Advisors LLC decreased its holdings in Medtronic PLC (NYSE:MDT) by 47.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,738 shares of the medical technology company’s stock after selling 28,606 shares during the period. Transcend Capital Advisors LLC’s holdings in Medtronic were worth $2,767,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Red Spruce Capital LLC grew its holdings in shares of Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after acquiring an additional 118 shares during the period. Certior Financial Group LLC grew its holdings in shares of Medtronic by 3.7% in the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after acquiring an additional 122 shares during the period. Cidel Asset Management Inc. grew its holdings in shares of Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock worth $856,000 after acquiring an additional 126 shares during the period. PrairieView Partners LLC grew its holdings in shares of Medtronic by 3.6% in the second quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock worth $324,000 after acquiring an additional 128 shares during the period. Finally, Motco grew its holdings in shares of Medtronic by 27.0% in the first quarter. Motco now owns 635 shares of the medical technology company’s stock worth $57,000 after acquiring an additional 135 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Argus boosted their price target on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Daiwa Capital Markets boosted their price target on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. Wells Fargo & Company boosted their price target on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Finally, Sanford C. Bernstein boosted their price target on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Medtronic Stock Performance

NYSE:MDT opened at $93.76 on Monday. The stock has a 50-day simple moving average of $94.32 and a two-hundred day simple moving average of $89.42. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The firm has a market capitalization of $120.26 billion, a PE ratio of 25.83, a P/E/G ratio of 2.47 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01.

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, topping the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were given a dividend of $0.71 per share. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Insider Activity at Medtronic

In related news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.