SageView Advisory Group LLC Lowers Stock Holdings in Medtronic PLC $MDT

SageView Advisory Group LLC lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,183 shares of the medical technology company’s stock after selling 826 shares during the quarter. SageView Advisory Group LLC’s holdings in Medtronic were worth $825,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Burkett Financial Services LLC boosted its position in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 185 shares in the last quarter. 1248 Management LLC purchased a new position in Medtronic during the first quarter worth approximately $26,000. Wood Tarver Financial Group LLC acquired a new position in shares of Medtronic during the fourth quarter valued at approximately $27,000. Columbia River Financial Group LLC acquired a new position in shares of Medtronic during the first quarter valued at approximately $28,000. Finally, Twin Tree Management LP acquired a new position in shares of Medtronic during the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $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 company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Robert W. Baird increased their target price on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Wells Fargo & Company increased their price target on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Sanford C. Bernstein increased their price target on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Finally, Argus increased their price target on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.14.

Medtronic Price Performance

MDT stock opened at $92.38 on Thursday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25. The business has a fifty day moving average of $91.27 and a two-hundred day moving average of $88.23. The stock has a market cap of $118.49 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 2.39 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the business posted $1.23 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

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.