Medtronic PLC $MDT Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. lessened its position in Medtronic PLC (NYSE:MDT) by 20.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,900 shares of the medical technology company’s stock after selling 1,736 shares during the period. Valley National Advisers Inc.’s holdings in Medtronic were worth $601,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in 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 buying an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Medtronic by 13.4% during the 1st quarter. Sivia Capital Partners LLC now owns 3,975 shares of the medical technology company’s stock worth $357,000 after acquiring an additional 471 shares during the period. UMB Bank n.a. grew its stake in shares of Medtronic by 479.0% in the first quarter. UMB Bank n.a. now owns 74,076 shares of the medical technology company’s stock worth $6,656,000 after purchasing an additional 61,283 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Medtronic by 26.1% in the first quarter. Wedmont Private Capital now owns 7,318 shares of the medical technology company’s stock worth $607,000 after purchasing an additional 1,516 shares in the last quarter. Finally, Miracle Mile Advisors LLC raised its stake in shares of Medtronic by 3.0% during the first quarter. Miracle Mile Advisors LLC now owns 27,743 shares of the medical technology company’s stock valued at $2,493,000 after purchasing an additional 812 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Up 0.8%

Medtronic stock opened at $98.46 on Tuesday. The firm has a market cap of $126.29 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 2.57 and a beta of 0.78. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $98.66. The firm’s 50 day moving average price is $93.07 and its two-hundred day moving average price is $88.52. 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 quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, research analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, September 26th. Medtronic’s payout ratio is presently 78.24%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the 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 completion of the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction that occurred 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 completion of 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 position. The disclosure for this purchase can be found here. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MDT shares. William Blair upgraded shares of Medtronic to a “hold” rating in a research report on Friday, July 11th. UBS Group upped their price target on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Wells Fargo & Company raised 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. Leerink Partners initiated coverage on Medtronic in a report on Monday, June 16th. They set an “outperform” rating and a $110.00 target price on the stock. Finally, Evercore ISI increased their price target on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.94.

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.