TFC Financial Management Inc. Decreases Stake in Medtronic PLC $MDT

TFC Financial Management Inc. reduced its position in Medtronic PLC (NYSE:MDT) by 74.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 373 shares of the medical technology company’s stock after selling 1,096 shares during the period. TFC Financial Management Inc.’s holdings in Medtronic were worth $33,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Tower Wealth Partners Inc. purchased a new stake in shares of Medtronic in the second quarter worth about $224,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Medtronic in the second quarter worth about $294,000. Nvest Financial LLC lifted its position in shares of Medtronic by 6.6% in the second quarter. Nvest Financial LLC now owns 11,272 shares of the medical technology company’s stock worth $983,000 after buying an additional 696 shares in the last quarter. Patten & Patten Inc. TN lifted its position in shares of Medtronic by 2.2% in the second quarter. Patten & Patten Inc. TN now owns 11,853 shares of the medical technology company’s stock worth $1,033,000 after buying an additional 250 shares in the last quarter. Finally, Davidson Investment Advisors increased its stake in Medtronic by 0.8% during the second quarter. Davidson Investment Advisors now owns 375,859 shares of the medical technology company’s stock worth $32,764,000 after acquiring an additional 2,820 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MDT has been the topic of several analyst reports. Citigroup boosted their price objective on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Sanford C. Bernstein boosted their price objective on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Royal Bank Of Canada reissued an “outperform” rating and set a $111.00 price objective on shares of Medtronic in a research note on Friday, October 10th. UBS Group boosted their price objective on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Finally, Daiwa Capital Markets boosted their price objective on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. One 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 data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $102.82.

Medtronic Price Performance

Shares of MDT stock opened at $94.98 on Friday. Medtronic PLC has a 52-week low of $79.29 and a 52-week 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 firm has a market capitalization of $121.83 billion, a P/E ratio of 26.17, a P/E/G ratio of 2.51 and a beta of 0.78. The stock has a 50 day moving average price of $94.01 and a 200 day moving average price of $88.93.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the company earned $1.23 EPS. Medtronic’s quarterly 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, sell-side analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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