Moran Wealth Management LLC Decreases Stake in Medtronic PLC $MDT

Moran Wealth Management LLC lowered its position in Medtronic PLC (NYSE:MDT) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 154,893 shares of the medical technology company’s stock after selling 4,834 shares during the quarter. Moran Wealth Management LLC’s holdings in Medtronic were worth $13,502,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Boston Partners grew its holdings in shares of Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after purchasing an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Medtronic by 28.8% in the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after purchasing an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Medtronic by 42.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after purchasing an additional 3,017,849 shares during the period. Nuveen LLC purchased a new position in Medtronic during the 1st quarter worth approximately $260,649,000. Finally, Mackenzie Financial Corp increased its position in Medtronic by 220.9% during the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after buying an additional 1,660,357 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.2%

MDT opened at $95.63 on Tuesday. The business has a 50 day moving average price of $93.68 and a two-hundred day moving average price of $88.80. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The company has a market cap of $122.66 billion, a PE ratio of 26.34, a P/E/G ratio of 2.51 and a beta of 0.78. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. The company had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. Medtronic’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a $0.71 dividend. 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 payout ratio is currently 78.24%.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research reports. Sanford C. Bernstein boosted their price objective on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $111.00 price target on shares of Medtronic in a research report on Friday. Truist Financial increased their price target on shares of Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a research note on Thursday, August 21st. Wells Fargo & Company raised their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Finally, Daiwa Capital Markets lifted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $102.41.

Insider Buying and Selling at Medtronic

In other Medtronic news, 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 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. The trade was 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 acquired 2,500 shares of the company’s stock in a transaction 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 purchase, the director directly owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.

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.