Prospera Financial Services Inc Sells 20,475 Shares of Medtronic PLC $MDT

Prospera Financial Services Inc cut its holdings in Medtronic PLC (NYSE:MDT) by 31.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,259 shares of the medical technology company’s stock after selling 20,475 shares during the quarter. Prospera Financial Services Inc’s holdings in Medtronic were worth $3,859,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares during the period. Alps Advisors Inc. grew its position in shares of Medtronic by 1.1% during the 1st quarter. Alps Advisors Inc. now owns 27,427 shares of the medical technology company’s stock worth $2,465,000 after buying an additional 290 shares during the period. Ballentine Partners LLC increased its stake in shares of Medtronic by 4.1% in the 1st quarter. Ballentine Partners LLC now owns 16,947 shares of the medical technology company’s stock valued at $1,523,000 after acquiring an additional 660 shares during the last quarter. Kathmere Capital Management LLC raised its position in shares of Medtronic by 64.4% in the 1st quarter. Kathmere Capital Management LLC now owns 5,984 shares of the medical technology company’s stock valued at $538,000 after acquiring an additional 2,343 shares during the period. Finally, FDx Advisors Inc. bought a new position in Medtronic during the 1st quarter worth approximately $294,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The shares were purchased at an average cost 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were 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. The trade was a 19.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on MDT shares. The Goldman Sachs Group lowered their target price on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research note on Wednesday, October 1st. Citigroup boosted their price target on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Stifel Nicolaus raised their price objective on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. UBS Group lifted their target price on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $111.00 target price on shares of Medtronic in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Stock Up 2.4%

MDT stock opened at $92.22 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. The stock has a market capitalization of $118.29 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.42 and a beta of 0.77. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The business has a 50-day moving average of $94.20 and a 200-day moving average of $90.05.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the firm earned $1.23 EPS. Medtronic’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 fiscal 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 given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s payout ratio is currently 78.24%.

Medtronic Company 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.