Nisa Investment Advisors LLC Lowers Holdings in Medtronic PLC $MDT

Nisa Investment Advisors LLC trimmed its stake in Medtronic PLC (NYSE:MDT) by 3.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 414,422 shares of the medical technology company’s stock after selling 16,890 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Medtronic were worth $36,420,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. 1248 Management LLC acquired a new position in Medtronic in the first quarter valued at $26,000. Columbia River Financial Group LLC purchased a new position in shares of Medtronic in the 1st quarter worth about $28,000. Twin Tree Management LP purchased a new stake in shares of Medtronic during the 1st quarter worth about $29,000. Activest Wealth Management increased its position in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC acquired a new position in Medtronic during the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the topic of several recent research reports. Mizuho lifted their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. The Goldman Sachs Group decreased their target price on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research report on Wednesday, October 1st. Robert W. Baird boosted their price target on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. William Blair raised shares of Medtronic to a “hold” rating in a report on Friday, July 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $111.00 price target on shares of Medtronic in a report on Friday, October 10th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.82.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction on Monday, August 25th. The stock was bought at an average cost 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 of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

MDT stock opened at $93.76 on Friday. The stock’s 50 day simple moving average is $94.32 and its 200 day simple moving average is $89.39. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The firm has a market cap of $120.26 billion, a P/E ratio of 25.83, a P/E/G ratio of 2.47 and a beta of 0.78. 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 (NYSE:MDT) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is currently 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.