Armstrong Advisory Group Inc. Sells 886 Shares of Medtronic PLC $MDT

Armstrong Advisory Group Inc. cut its stake in shares of Medtronic PLC (NYSE:MDT) by 67.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 437 shares of the medical technology company’s stock after selling 886 shares during the period. Armstrong Advisory Group Inc.’s holdings in Medtronic were worth $38,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Red Spruce Capital LLC increased its holdings in Medtronic by 0.5% in the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after buying an additional 118 shares in the last quarter. Certior Financial Group LLC boosted its position in Medtronic by 3.7% in the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after purchasing an additional 122 shares during the last quarter. Dunhill Financial LLC boosted its position in Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock worth $76,000 after purchasing an additional 124 shares during the last quarter. Cidel Asset Management Inc. boosted its position in Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock worth $856,000 after purchasing an additional 126 shares during the last quarter. Finally, Petros Family Wealth LLC boosted its position in Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock worth $280,000 after purchasing an additional 127 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

Shares of MDT stock opened at $94.95 on Wednesday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The stock has a market capitalization of $121.79 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 2.49 and a beta of 0.77. The stock has a fifty day simple moving average of $92.27 and a two-hundred day simple moving average of $88.34. 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 issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion during 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%.The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio is currently 78.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MDT shares. Wells Fargo & Company lifted their price objective on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. UBS Group lifted their target price on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Wolfe Research raised Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Robert W. Baird lifted their price objective on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Finally, William Blair raised Medtronic to a “hold” rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.27.

Insider Activity

In other Medtronic news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Medtronic Company 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.