Franklin Street Advisors Inc. NC Sells 5,999 Shares of Medtronic PLC $MDT

Franklin Street Advisors Inc. NC decreased its position in Medtronic PLC (NYSE:MDT) by 10.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 50,513 shares of the medical technology company’s stock after selling 5,999 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Medtronic were worth $4,403,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MDT. Brighton Jones LLC grew its stake in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Medtronic by 128.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 8,013 shares of the medical technology company’s stock worth $720,000 after acquiring an additional 4,507 shares in the last quarter. Beacon Financial Group grew its stake in shares of Medtronic by 9.5% in the 1st quarter. Beacon Financial Group now owns 14,249 shares of the medical technology company’s stock worth $1,280,000 after acquiring an additional 1,233 shares in the last quarter. Lmcg Investments LLC grew its stake in shares of Medtronic by 6.3% in the 1st quarter. Lmcg Investments LLC now owns 23,194 shares of the medical technology company’s stock worth $2,084,000 after acquiring an additional 1,365 shares in the last quarter. Finally, Curat Global LLC bought a new position in Medtronic during the first quarter valued at about $312,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MDT. Evercore ISI increased their price target on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Wells Fargo & Company increased their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Truist Financial increased their price target on shares of Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Morgan Stanley restated an “overweight” rating and set a $107.00 price target (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Finally, Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $102.27.

Medtronic Trading Up 2.3%

Shares of Medtronic stock opened at $97.63 on Friday. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $97.94. The company has a market cap of $125.23 billion, a price-to-earnings ratio of 26.90, a PEG 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 price is $92.94 and its 200-day moving average price is $88.50.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Insider Buying and Selling

In related news, Director William R. Jellison bought 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. 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.