Medtronic PLC $MDT Shares Sold by High Note Wealth LLC

High Note Wealth LLC cut its stake in shares of Medtronic PLC (NYSE:MDT) by 17.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,194 shares of the medical technology company’s stock after selling 865 shares during the quarter. High Note Wealth LLC’s holdings in Medtronic were worth $366,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. 1248 Management LLC bought a new position in Medtronic during the 1st quarter valued at $26,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic during the first quarter worth approximately $28,000. Twin Tree Management LP acquired a new position in shares of Medtronic during the first quarter worth $29,000. Activest Wealth Management grew its holdings in 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 purchasing an additional 322 shares during the period. Finally, Hughes Financial Services LLC bought a new position in Medtronic in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MDT. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Robert W. Baird lifted their target price on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. The Goldman Sachs Group decreased their price objective on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research note on Wednesday, October 1st. Morgan Stanley reissued an “overweight” rating and issued a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Finally, Argus upped their target price 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 research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.94.

Medtronic Stock Up 0.8%

NYSE:MDT opened at $98.46 on Tuesday. The stock has a market capitalization of $126.29 billion, a P/E ratio of 27.12, a P/E/G ratio of 2.57 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. The company’s 50-day simple moving average is $93.07 and its 200-day simple moving average is $88.52. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $98.66.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 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 during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the firm posted $1.23 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Insider Transactions at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was 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 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. 0.26% of the stock is currently owned by company insiders.

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.