Journey Advisory Group LLC Reduces Holdings in Medtronic PLC $MDT

Journey Advisory Group LLC lowered its stake in Medtronic PLC (NYSE:MDT) by 15.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,338 shares of the medical technology company’s stock after selling 949 shares during the period. Journey Advisory Group LLC’s holdings in Medtronic were worth $465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC boosted its holdings in shares of Medtronic by 7,604.9% in the 2nd quarter. Bogart Wealth LLC now owns 87,451 shares of the medical technology company’s stock valued at $7,623,000 after buying an additional 86,316 shares during the period. Princeton Global Asset Management LLC boosted its holdings in shares of Medtronic by 42.5% in the second quarter. Princeton Global Asset Management LLC now owns 570 shares of the medical technology company’s stock valued at $50,000 after acquiring an additional 170 shares in the last quarter. CORDA Investment Management LLC. boosted its holdings in shares of Medtronic by 3.8% in the second quarter. CORDA Investment Management LLC. now owns 261,058 shares of the medical technology company’s stock valued at $22,756,000 after acquiring an additional 9,551 shares in the last quarter. Lyell Wealth Management LP bought a new stake in shares of Medtronic in the 2nd quarter worth approximately $893,000. Finally, Crux Wealth Advisors raised its holdings in shares of Medtronic by 5.5% in the 2nd quarter. Crux Wealth Advisors now owns 15,058 shares of the medical technology company’s stock worth $1,313,000 after purchasing an additional 791 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Mizuho upped their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Truist Financial boosted their target price on shares of Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. 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, October 9th. Sanford C. Bernstein increased their price target on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Finally, Wells Fargo & Company increased their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the stock in a transaction dated Monday, August 25th. The shares were bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was 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 approximately $3,261,621.70. The trade was 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 company insiders.

Medtronic Stock Up 0.2%

Shares of NYSE:MDT opened at $95.97 on Tuesday. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The company has a 50 day moving average of $94.13 and a 200-day moving average of $89.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The stock has a market cap of $123.10 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 2.52 and a beta of 0.78.

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 the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the previous year, the company earned $1.23 EPS. Medtronic’s revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were issued a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is 78.24%.

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.