Medtronic PLC $MDT Stock Holdings Decreased by Continuum Advisory LLC

Continuum Advisory LLC lessened its stake in Medtronic PLC (NYSE:MDTFree Report) by 87.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,055 shares of the medical technology company’s stock after selling 44,102 shares during the quarter. Continuum Advisory LLC’s holdings in Medtronic were worth $474,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Argent Trust Co grew its stake in Medtronic by 3.2% in the second quarter. Argent Trust Co now owns 95,511 shares of the medical technology company’s stock worth $7,472,000 after purchasing an additional 2,985 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Medtronic during the second quarter valued at approximately $4,618,000. Fielder Capital Group LLC bought a new position in Medtronic during the 2nd quarter worth approximately $204,000. IAG Wealth Partners LLC bought a new position in Medtronic during the 2nd quarter worth approximately $30,000. Finally, CORDA Investment Management LLC. grew its position in shares of Medtronic by 9.0% in the 2nd quarter. CORDA Investment Management LLC. now owns 296,967 shares of the medical technology company’s stock worth $23,232,000 after acquiring an additional 24,604 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Jefferies Financial Group restated a “hold” rating and set a $88.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Wells Fargo & Company decreased their price objective on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. UBS Group upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $100.00 in a research note on Tuesday, July 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $101.00 target price on shares of Medtronic in a report on Wednesday, June 17th. Eighteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.83.

Read Our Latest Analysis on MDT

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Medtronic Stock Down 1.8%

MDT stock opened at $92.45 on Friday. The stock has a market cap of $118.33 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.55. The firm’s 50-day simple moving average is $84.12 and its 200 day simple moving average is $86.01. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDTGet Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio is currently 77.21%.

About Medtronic

(Free Report)

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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