Medtronic PLC $MDT Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. reduced its holdings in Medtronic PLC (NYSE:MDT) by 11.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,424 shares of the medical technology company’s stock after selling 6,834 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Medtronic were worth $4,980,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MDT. Burkett Financial Services LLC lifted its holdings in shares of Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after buying an additional 185 shares during the period. 1248 Management LLC acquired a new stake in shares of Medtronic in the 1st quarter valued at approximately $26,000. Wood Tarver Financial Group LLC purchased a new position in Medtronic in the 4th quarter valued at approximately $27,000. Columbia River Financial Group LLC purchased a new position in Medtronic in the 1st quarter valued at approximately $28,000. Finally, Twin Tree Management LP purchased a new position in Medtronic in the 1st quarter valued at approximately $29,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Medtronic news, Director William R. Jellison acquired 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 completion of the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction 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 sale, the executive vice president owned 35,615 shares in the company, valued at $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 corporate insiders.

Medtronic Price Performance

Shares of NYSE:MDT opened at $92.38 on Thursday. The business’s fifty day moving average price is $91.27 and its two-hundred day moving average price is $88.23. The stock has a market cap of $118.49 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 2.39 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.Medtronic’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio is 78.24%.

Analyst Ratings Changes

Several research firms recently weighed in on MDT. Argus raised their price objective on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Sanford C. Bernstein raised their price objective on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. William Blair raised Medtronic to a “hold” rating in a research note on Friday, July 11th. Truist Financial raised their price objective on Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research note on Thursday, August 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 price objective (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $102.14.

About Medtronic

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.