Medtronic PLC $MDT Shares Sold by Verity Asset Management Inc.

Verity Asset Management Inc. lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 31.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,799 shares of the medical technology company’s stock after selling 1,255 shares during the quarter. Verity Asset Management Inc.’s holdings in Medtronic were worth $244,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 1248 Management LLC acquired a new stake in Medtronic during the 1st quarter worth approximately $26,000. Twin Tree Management LP acquired a new stake in Medtronic during the 1st quarter worth approximately $29,000. Activest Wealth Management increased its position in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 322 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in Medtronic during the 1st quarter worth approximately $32,000. Finally, Investment Management Corp VA ADV increased its position in Medtronic by 144.2% during the 1st quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock worth $36,000 after purchasing an additional 238 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity 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 stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction that occurred on 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 purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MDT. Royal Bank Of Canada reissued an “outperform” rating and set a $111.00 target price on shares of Medtronic in a research report on Friday, October 10th. Robert W. Baird upped their price target on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a report on Sunday. Argus upped their price target on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Finally, William Blair upgraded Medtronic to a “hold” rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.82.

Medtronic Stock Performance

Medtronic stock opened at $90.19 on Tuesday. The stock has a market cap of $115.68 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 2.42 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 stock has a 50 day moving average of $94.31 and a 200-day moving average of $89.82. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. The company 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 business’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, September 26th. Medtronic’s dividend payout ratio is 78.24%.

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.