Meritage Portfolio Management Reduces Stock Position in Medtronic PLC $MDT

Meritage Portfolio Management cut its holdings in Medtronic PLC (NYSE:MDT) by 6.8% during the 2nd quarter, Holdings Channel reports. The firm owned 36,921 shares of the medical technology company’s stock after selling 2,676 shares during the period. Meritage Portfolio Management’s holdings in Medtronic were worth $3,218,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. 1248 Management LLC bought a new stake in shares of Medtronic in the first quarter worth about $26,000. Columbia River Financial Group LLC purchased a new position in shares of Medtronic during the first quarter valued at approximately $28,000. Twin Tree Management LP purchased a new position in shares of Medtronic during the first quarter valued at approximately $29,000. Activest Wealth Management increased its stake in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the period. Finally, Hughes Financial Services LLC purchased a new position in shares of Medtronic during the first quarter valued at approximately $32,000. 82.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated 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 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 insiders.

Medtronic Stock Down 1.0%

NYSE:MDT opened at $95.52 on Monday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The firm’s 50-day moving average price is $93.56 and its 200-day moving average price is $88.74. The company has a market capitalization of $122.52 billion, a PE ratio of 26.31, a P/E/G ratio of 2.51 and a beta of 0.78. 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 announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating 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 business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The business’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 predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s payout ratio is presently 78.24%.

Wall Street Analyst Weigh In

MDT has been the subject of several research reports. 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 report on Wednesday, October 1st. Truist Financial upped their price objective on shares of Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a report on Thursday, August 21st. Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. William Blair upgraded shares of Medtronic to a “hold” rating in a report on Friday, July 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a $107.00 price objective (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.41.

Medtronic 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.