Advocate Group LLC Has $9.81 Million Holdings in Medtronic PLC $MDT

Advocate Group LLC lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.3% during the second quarter, Holdings Channel.com reports. The firm owned 112,556 shares of the medical technology company’s stock after acquiring an additional 2,525 shares during the quarter. Medtronic makes up 1.8% of Advocate Group LLC’s investment portfolio, making the stock its 16th biggest holding. Advocate Group LLC’s holdings in Medtronic were worth $9,811,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MDT. 1248 Management LLC acquired a new position in Medtronic in the first quarter valued at $26,000. Columbia River Financial Group LLC bought a new stake in Medtronic in the first quarter valued at $28,000. Twin Tree Management LP bought a new stake in Medtronic in the first quarter valued at $29,000. Activest Wealth Management increased its stake in 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 stake in Medtronic in the first quarter valued at $32,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related 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 completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s 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 sale, 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. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $95.52 on Friday. The firm’s 50 day moving average is $93.56 and its 200 day moving average is $88.74. 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 stock has a market capitalization of $122.52 billion, a P/E ratio of 26.31, a PEG ratio of 2.51 and a beta of 0.78. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’s revenue for the quarter 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, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is 78.24%.

Analyst Ratings Changes

Several research firms have weighed in on MDT. Wells Fargo & Company lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Sanford C. Bernstein boosted their target price on shares of Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. BTIG Research reissued a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. Morgan Stanley reissued an “overweight” rating and set a $107.00 target price (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Finally, Citigroup boosted their target price on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and an average target price of $102.41.

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.