IFP Advisors Inc Increases Stake in Medtronic PLC $MDT

IFP Advisors Inc lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,435 shares of the medical technology company’s stock after buying an additional 839 shares during the quarter. IFP Advisors Inc’s holdings in Medtronic were worth $3,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Callan Family Office LLC increased its position in shares of Medtronic by 241.8% during the second quarter. Callan Family Office LLC now owns 28,883 shares of the medical technology company’s stock valued at $2,518,000 after buying an additional 20,433 shares during the period. Blair William & Co. IL grew its holdings in Medtronic by 0.5% in the second quarter. Blair William & Co. IL now owns 82,679 shares of the medical technology company’s stock worth $7,207,000 after purchasing an additional 442 shares during the period. GFG Capital LLC purchased a new stake in Medtronic in the second quarter worth about $36,000. MSH Capital Advisors LLC grew its holdings in Medtronic by 3.6% in the second quarter. MSH Capital Advisors LLC now owns 15,027 shares of the medical technology company’s stock worth $1,310,000 after purchasing an additional 518 shares during the period. Finally, Columbus Macro LLC grew its holdings in Medtronic by 22.9% in the second quarter. Columbus Macro LLC now owns 71,965 shares of the medical technology company’s stock worth $6,273,000 after purchasing an additional 13,416 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred 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 in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director 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 disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Truist Financial upped their price objective on shares of Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a report on Thursday, August 21st. Citigroup upped their price objective on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus upped their price objective on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday. Finally, The Goldman Sachs Group dropped their target price on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $102.41.

Medtronic Trading Down 1.0%

Shares of NYSE MDT opened at $95.52 on Friday. The firm’s 50 day moving average price is $93.56 and its 200-day moving average price is $88.74. The company has a market cap of $122.52 billion, a PE ratio of 26.31, a P/E/G ratio of 2.54 and a beta of 0.78. 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.

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

Medtronic Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s dividend 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.