RFG Advisory LLC Decreases Stock Holdings in Medtronic PLC $MDT

RFG Advisory LLC reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 39.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,408 shares of the medical technology company’s stock after selling 10,178 shares during the period. RFG Advisory LLC’s holdings in Medtronic were worth $1,205,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MDT. 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 valued at $3,194,000 after buying an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after acquiring an additional 381 shares during the period. Jump Financial LLC purchased a new position in shares of Medtronic during the 2nd quarter worth $299,000. Main Street Financial Solutions LLC boosted its position in shares of Medtronic by 28.9% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after acquiring an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC boosted its position in shares of Medtronic by 21.3% during the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after acquiring an additional 3,376 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.7%

NYSE MDT opened at $90.97 on Friday. The firm’s 50-day moving average is $87.91 and its two-hundred day moving average is $85.18. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. The stock has a market capitalization of $116.36 billion, a P/E ratio of 22.41, a PEG ratio of 2.15 and a beta of 0.56.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.06. The company had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. Medtronic’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 earnings per share. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.96 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be given a $0.72 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.2%. Medtronic’s payout ratio is presently 70.94%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC upped their price objective on shares of Medtronic from $101.00 to $114.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Mizuho set a $115.00 target price on shares of Medtronic in a report on Wednesday, September 2nd. Jefferies Financial Group reissued a “hold” rating and issued a $88.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $92.00 price target on shares of Medtronic in a report on Thursday, September 3rd. Finally, Robert W. Baird upped their price objective on Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Nineteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.