Stone Summit Wealth LLC Sells 905 Shares of Medtronic PLC $MDT

Stone Summit Wealth LLC decreased its holdings in shares of Medtronic PLC (NYSE:MDT) by 5.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,694 shares of the medical technology company’s stock after selling 905 shares during the quarter. Stone Summit Wealth LLC’s holdings in Medtronic were worth $1,455,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MDT. Legacy Advisory Services LLC acquired a new position in shares of Medtronic in the first quarter valued at approximately $541,000. RNC Capital Management LLC lifted its holdings in shares of Medtronic by 8.8% in the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after purchasing an additional 33,729 shares in the last quarter. Commerce Bank lifted its holdings in shares of Medtronic by 1.7% in the 1st quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock worth $13,118,000 after purchasing an additional 2,429 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Finally, Cullen Investment Group LTD. lifted its stake in Medtronic by 7.2% during the 2nd quarter. Cullen Investment Group LTD. now owns 85,921 shares of the medical technology company’s stock valued at $7,490,000 after acquiring an additional 5,802 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of the 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 completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at $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 owned by insiders.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Mizuho boosted their price objective on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. Citigroup boosted their target price on Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Finally, Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.27.

Medtronic Stock Up 0.0%

Shares of MDT opened at $94.34 on Friday. The company has a market capitalization of $121.01 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. The business’s 50 day moving average is $92.57 and its 200 day moving average is $88.38. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.Medtronic’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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