Medtronic PLC $MDT Shares Sold by Avantra Family Wealth Inc.

Avantra Family Wealth Inc. reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 16.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,080 shares of the medical technology company’s stock after selling 1,803 shares during the period. Avantra Family Wealth Inc.’s holdings in Medtronic were worth $792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. 1248 Management LLC acquired a new stake in shares of Medtronic during the first quarter worth $26,000. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic during the first quarter worth $28,000. Twin Tree Management LP acquired a new position in Medtronic during the first quarter valued at $29,000. Activest Wealth Management lifted its position in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in Medtronic during the first quarter valued at $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In related news, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction that occurred 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 purchase, the director owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Sanford C. Bernstein boosted their target price on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. UBS Group boosted their target price on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. The Goldman Sachs Group cut their price objective on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a report on Wednesday, October 1st. Finally, Robert W. Baird lifted their price objective on shares of Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.94.

Medtronic Stock Up 0.8%

MDT stock opened at $98.46 on Tuesday. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $98.66. 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 firm has a 50-day simple moving average of $93.07 and a 200-day simple moving average of $88.52. The stock has a market capitalization of $126.29 billion, a P/E ratio of 27.12, a P/E/G ratio of 2.57 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. Medtronic’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

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.