Virtue Capital Management LLC Sells 1,711 Shares of Medtronic PLC $MDT

Virtue Capital Management LLC lowered its stake in Medtronic PLC (NYSE:MDT) by 32.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,493 shares of the medical technology company’s stock after selling 1,711 shares during the quarter. Virtue Capital Management LLC’s holdings in Medtronic were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Medtronic by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after acquiring an additional 1,895,165 shares during the period. Geode Capital Management LLC raised its position in Medtronic by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after purchasing an additional 310,684 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Medtronic by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after buying an additional 595,549 shares during the period. Deutsche Bank AG lifted its position in Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after purchasing an additional 566,155 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Medtronic by 9.9% during the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock valued at $1,525,876,000 after buying an additional 1,535,308 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research note on Friday, November 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 price objective on shares of Medtronic in a research report on Wednesday, November 19th. JPMorgan Chase & Co. upped their target price on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Morgan Stanley raised their price target on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Finally, Daiwa Capital Markets lifted their price target on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $109.72.

Medtronic Trading Down 0.5%

MDT opened at $104.53 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $106.33. The stock has a market cap of $134.07 billion, a PE ratio of 28.79, a PEG ratio of 2.42 and a beta of 0.77. The business has a 50 day moving average of $96.06 and a 200-day moving average of $91.61.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The business had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

About Medtronic

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.