Apollon Wealth Management LLC Has $3.89 Million Stock Position in Medtronic PLC $MDT

Apollon Wealth Management LLC grew its position in Medtronic PLC (NYSE:MDT) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 44,592 shares of the medical technology company’s stock after buying an additional 265 shares during the period. Apollon Wealth Management LLC’s holdings in Medtronic were worth $3,887,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 1248 Management LLC acquired a new stake in shares of Medtronic in the 1st quarter valued at $26,000. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic in the 1st quarter valued at $28,000. Twin Tree Management LP acquired a new stake in shares of Medtronic in the 1st quarter valued at $29,000. Activest Wealth Management increased its stake in shares of Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new stake in shares of Medtronic in the 1st quarter valued at $32,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent research reports. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. William Blair upgraded Medtronic to a “hold” rating in a research report on Friday, July 11th. Evercore ISI raised their price target on Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Leerink Partnrs upgraded Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. Finally, Truist Financial raised their price target on Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $102.41.

Insider Transactions at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated 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 owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

MDT stock opened at $95.52 on Friday. The business’s 50-day moving average price is $93.56 and its two-hundred day moving average price is $88.74. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The firm has a market cap of $122.52 billion, a PE ratio of 26.31, a P/E/G ratio of 2.51 and a beta of 0.78. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37.

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

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic’s payout ratio is 78.24%.

Medtronic Company 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.