Meridian Wealth Advisors LLC Sells 568 Shares of Medtronic PLC $MDT

Meridian Wealth Advisors LLC lessened its position in Medtronic PLC (NYSE:MDT) by 18.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,536 shares of the medical technology company’s stock after selling 568 shares during the period. Meridian Wealth Advisors LLC’s holdings in Medtronic were worth $221,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Boston Partners grew its stake in Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after buying an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Medtronic by 28.8% in the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after acquiring an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Medtronic by 42.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after acquiring an additional 3,017,849 shares during the last quarter. Nuveen LLC acquired a new stake in Medtronic during the 1st quarter valued at $260,649,000. Finally, Vanguard Group Inc. raised its position in Medtronic by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after purchasing an additional 1,895,165 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was 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 $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.26% of the company’s stock.

Medtronic Trading Up 1.8%

MDT opened at $101.16 on Friday. The firm has a 50 day simple moving average of $95.04 and a 200 day simple moving average of $90.88. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $102.59. The company has a market cap of $129.76 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. 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 (NYSE:MDT) last released its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The firm had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Wells Fargo & Company raised their price objective on shares of Medtronic from $100.00 to $114.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group boosted their target price on shares of Medtronic from $95.00 to $102.00 and gave the stock a “neutral” rating in a research note on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Finally, Barclays boosted their price objective on shares of Medtronic from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $109.72.

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.