Virtue Capital Management LLC Cuts Stake in Medtronic PLC $MDT

Virtue Capital Management LLC cut its stake in shares of Medtronic PLC (NYSE:MDT) by 32.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,493 shares of the medical technology company’s stock after selling 1,711 shares during the period. Virtue Capital Management LLC’s holdings in Medtronic were worth $304,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. 1248 Management LLC purchased a new stake in Medtronic during the 1st quarter valued at about $26,000. Twin Tree Management LP bought a new position in shares of Medtronic in the first quarter worth approximately $29,000. Activest Wealth Management lifted its stake in shares of Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after buying an additional 322 shares in the last quarter. GFG Capital LLC purchased a new stake in shares of Medtronic during the second quarter valued at approximately $36,000. Finally, True Wealth Design LLC increased its position in shares of Medtronic by 49.8% during the second quarter. True Wealth Design LLC now owns 421 shares of the medical technology company’s stock valued at $37,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank Of Canada upped their price objective on Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Cowen reaffirmed a “buy” rating on shares of Medtronic in a research report on Friday, November 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 price objective on shares of Medtronic in a report on Wednesday, November 19th. Finally, Barclays upped their target price on shares of Medtronic from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average price target of $109.72.

Insider Activity

In related news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $104.53 on Friday. 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 PLC has a one year low of $79.29 and a one year high of $106.33. The firm has a market capitalization of $134.07 billion, a P/E ratio of 28.79, a PEG ratio of 2.42 and a beta of 0.77. The business has a fifty day moving average of $96.06 and a 200 day moving average of $91.61.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The company had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.Medtronic’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

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.