Sound View Wealth Advisors Group LLC Grows Holdings in Medtronic PLC $MDT

Sound View Wealth Advisors Group LLC increased its stake in Medtronic PLC (NYSE:MDT) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,656 shares of the medical technology company’s stock after buying an additional 565 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Medtronic were worth $2,934,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Legacy Advisory Services LLC bought a new stake in Medtronic in the 1st quarter valued at about $541,000. GC Wealth Management RIA LLC grew its position in Medtronic by 20.6% in the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after purchasing an additional 5,734 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after purchasing an additional 5,296 shares during the period. World Investment Advisors raised its holdings in shares of Medtronic by 1.9% during the second quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock valued at $13,608,000 after buying an additional 2,868 shares during the last quarter. Finally, Sivik Global Healthcare LLC raised its holdings in shares of Medtronic by 6.7% during the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock valued at $6,974,000 after buying an additional 5,000 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 2.4%

MDT opened at $92.22 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The company has a market capitalization of $118.29 billion, a PE ratio of 25.41, a P/E/G ratio of 2.42 and a beta of 0.77. The stock’s fifty day moving average is $94.20 and its 200-day moving average is $90.00. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37.

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 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 analysts’ expectations of $8.37 billion. During the same quarter 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. On average, equities analysts predict 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. Investors of record on Friday, September 26th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, September 26th. Medtronic’s payout ratio is presently 78.24%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDT. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Truist Financial increased their price target on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Sanford C. Bernstein reissued an “outperform” rating and set a $98.00 price target on shares of Medtronic in a report on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Finally, Citigroup increased their target price on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction on 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 approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. 0.26% of the stock is owned by insiders.

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.