2,889 Shares in Medtronic PLC $MDT Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC acquired a new stake in shares of Medtronic PLC (NYSE:MDT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,889 shares of the medical technology company’s stock, valued at approximately $252,000.

A number of other institutional investors have also recently modified their holdings of MDT. Legacy Advisory Services LLC purchased a new stake in Medtronic during the 1st quarter valued at $541,000. GC Wealth Management RIA LLC grew its holdings in shares of Medtronic by 20.6% in the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after acquiring an additional 5,734 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after acquiring an additional 5,296 shares during the period. World Investment Advisors increased its position in Medtronic by 1.9% during the second quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock valued at $13,608,000 after acquiring an additional 2,868 shares during the last quarter. Finally, Sivik Global Healthcare LLC lifted its holdings in Medtronic by 6.7% in the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock valued at $6,974,000 after acquiring an additional 5,000 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.26% of the stock is owned by insiders.

Medtronic Price Performance

Shares of NYSE:MDT opened at $90.82 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The company has a market capitalization of $116.49 billion, a P/E ratio of 25.02, a P/E/G ratio of 2.42 and a beta of 0.78. The firm’s 50 day simple moving average is $94.35 and its two-hundred day simple moving average is $89.77.

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, topping analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion during 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%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MDT. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. Truist Financial boosted their target price on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $107.00 target price (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Mizuho boosted their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $102.82.

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.