Phoenix Wealth Advisors Has $2.38 Million Stock Position in Medtronic PLC $MDT

Phoenix Wealth Advisors lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,252 shares of the medical technology company’s stock after selling 1,072 shares during the quarter. Phoenix Wealth Advisors’ holdings in Medtronic were worth $2,376,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Legacy Advisory Services LLC bought a new position in shares of Medtronic in the 1st quarter worth about $541,000. GC Wealth Management RIA LLC increased its holdings 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 acquiring an additional 5,734 shares in 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 worth $2,562,000 after purchasing an additional 5,296 shares in the last quarter. World Investment Advisors increased its stake in Medtronic by 1.9% in the 2nd quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock worth $13,608,000 after buying an additional 2,868 shares in the last quarter. Finally, Sivik Global Healthcare LLC grew its holdings in Medtronic by 6.7% during the 2nd 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 in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $111.00 price target on shares of Medtronic in a research report on Friday, October 10th. Argus raised their price target on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Truist Financial lifted their price objective on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Stifel Nicolaus raised their price target on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $103.06.

Medtronic Stock Performance

Shares of MDT opened at $96.12 on Friday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. 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 cap of $123.29 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The firm has a fifty day moving average of $94.37 and a 200-day moving average of $90.26.

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

Insider Activity

In related news, EVP Harry Skip Kiil sold 8,605 shares of the company’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 transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was purchased at an average price of $92.37 per share, with a total value 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 represents a 100.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.26% of the stock is owned by corporate 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.