Medtronic PLC $MDT Shares Sold by Stone Summit Wealth LLC

Stone Summit Wealth LLC trimmed its stake in shares of Medtronic PLC (NYSE:MDT) by 5.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 16,694 shares of the medical technology company’s stock after selling 905 shares during the period. Stone Summit Wealth LLC’s holdings in Medtronic were worth $1,455,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. 1248 Management LLC purchased a new stake in Medtronic during the 1st quarter valued at approximately $26,000. Burkett Financial Services LLC increased its position in Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 185 shares during the period. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic in the 1st quarter worth approximately $28,000. Twin Tree Management LP acquired a new stake in shares of Medtronic in the 1st quarter worth approximately $29,000. Finally, Activest Wealth Management lifted its stake in Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.0%

Shares of MDT opened at $94.34 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $121.01 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. The stock’s fifty day simple moving average is $92.57 and its 200 day simple moving average is $88.38. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25.

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 for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company 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 $0.71 dividend. This represents a $2.84 annualized dividend 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 78.24%.

Insider Buying and Selling at Medtronic

In related 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 value of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent research reports. Leerink Partners initiated coverage on Medtronic in a research note on Monday, June 16th. They issued an “outperform” rating and a $110.00 target price on the stock. Truist Financial upped their target price on Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research note on Thursday, August 21st. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Daiwa Capital Markets upped their target price on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, William Blair raised Medtronic to a “hold” rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.27.

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.