Allegiance Financial Group Advisory Services LLC Sells 296 Shares of Medtronic PLC $MDT

Allegiance Financial Group Advisory Services LLC lowered its position in Medtronic PLC (NYSE:MDT) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,656 shares of the medical technology company’s stock after selling 296 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in Medtronic were worth $321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. 1248 Management LLC bought a new position in shares of Medtronic in the first quarter valued at approximately $26,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic in the first quarter valued at approximately $28,000. Twin Tree Management LP bought a new position in shares of Medtronic in the first quarter valued at approximately $29,000. Activest Wealth Management lifted its holdings in shares of Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC bought a new position in shares of Medtronic in the first quarter valued at approximately $32,000. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction dated 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 transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Morgan Stanley reiterated an “overweight” rating and set a $107.00 price target (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Evercore ISI lifted their price target on Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Sanford C. Bernstein lifted their price target on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Finally, Daiwa Capital Markets lifted their price target on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.63.

Medtronic Stock Down 0.5%

Medtronic stock opened at $97.88 on Thursday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The firm has a market capitalization of $125.55 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 2.59 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. The firm has a 50 day simple moving average of $93.31 and a 200 day simple moving average of $88.65.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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 net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the business earned $1.23 EPS. Medtronic’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. On average, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, September 26th. Medtronic’s payout ratio is 78.24%.

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.