Medtronic PLC $MDT Shares Sold by Petros Family Wealth LLC

Petros Family Wealth LLC lessened its holdings in Medtronic PLC (NYSE:MDT) by 23.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,393 shares of the medical technology company’s stock after selling 718 shares during the quarter. Petros Family Wealth LLC’s holdings in Medtronic were worth $209,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Legacy Advisory Services LLC purchased a new position in Medtronic in the first quarter valued at approximately $541,000. GC Wealth Management RIA LLC grew its position in shares of 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 valued at $2,926,000 after buying an additional 5,734 shares during the last quarter. RNC Capital Management LLC raised its stake in Medtronic by 8.8% during the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after acquiring an additional 33,729 shares in the last quarter. Commerce Bank raised its stake in Medtronic by 1.7% during the 1st quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock worth $13,118,000 after acquiring an additional 2,429 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after acquiring an additional 37,265 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 2.3%

MDT opened at $97.63 on Monday. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $97.94. The business has a 50 day moving average price of $92.94 and a two-hundred day moving average price of $88.46. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The company has a market cap of $125.23 billion, a PE ratio of 26.90, a P/E/G ratio of 2.57 and a beta of 0.78.

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 company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the business posted $1.23 EPS. The company’s 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 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given 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 2.9%. Medtronic’s dividend payout ratio is presently 78.24%.

Analysts Set New Price Targets

Several equities analysts have issued reports on MDT shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. The Goldman Sachs Group dropped their price target on Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a research note on Wednesday, October 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $107.00 price target (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Sanford C. Bernstein increased their price objective on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Finally, Mizuho raised their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.94.

Insider Buying and Selling at Medtronic

In other news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction that occurred on Wednesday, September 3rd. The shares were 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 directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents 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 company insiders.

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.