MGO One Seven LLC Has $1.84 Million Position in Medtronic PLC $MDT

MGO One Seven LLC reduced its stake in Medtronic PLC (NYSE:MDT) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 21,121 shares of the medical technology company’s stock after selling 1,722 shares during the quarter. MGO One Seven LLC’s holdings in Medtronic were worth $1,841,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cypress Capital Group lifted its holdings in Medtronic by 15.2% in the 2nd quarter. Cypress Capital Group now owns 4,501 shares of the medical technology company’s stock worth $392,000 after purchasing an additional 593 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of Medtronic by 1,044.7% during the second quarter. Hazlett Burt & Watson Inc. now owns 870 shares of the medical technology company’s stock worth $76,000 after buying an additional 794 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Medtronic by 2.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,176,171 shares of the medical technology company’s stock worth $104,385,000 after buying an additional 27,055 shares during the last quarter. LRI Investments LLC lifted its holdings in shares of Medtronic by 2.8% during the second quarter. LRI Investments LLC now owns 11,197 shares of the medical technology company’s stock worth $976,000 after buying an additional 309 shares during the last quarter. Finally, Brightwater Advisory LLC lifted its holdings in shares of Medtronic by 458.5% during the second quarter. Brightwater Advisory LLC now owns 3,256 shares of the medical technology company’s stock worth $293,000 after buying an additional 2,673 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price target on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a report on Wednesday, October 1st. Mizuho upped their price target on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Argus upped their price target on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. William Blair upgraded Medtronic to a “hold” rating in a report on Friday, July 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $111.00 price target on shares of Medtronic in a report on Friday, October 10th. One research 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 given a Sell rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Stock Performance

MDT opened at $95.29 on Thursday. The stock’s 50 day simple moving average is $93.94 and its 200-day simple moving average is $88.90. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The stock has a market cap of $122.23 billion, a PE ratio of 26.25, a P/E/G ratio of 2.54 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 announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm 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 business posted $1.23 earnings per share. The business’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. Sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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

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.