Laffer Tengler Investments Inc. Sells 7,667 Shares of Medtronic PLC $MDT

Laffer Tengler Investments Inc. cut its holdings in shares of Medtronic PLC (NYSE:MDT) by 14.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,071 shares of the medical technology company’s stock after selling 7,667 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Medtronic were worth $4,103,000 at the end of the most recent quarter.

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

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the 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 sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MDT. The Goldman Sachs Group cut their price target on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a report on Wednesday, October 1st. UBS Group raised their target price on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $111.00 price objective on shares of Medtronic in a report on Friday, October 10th. Finally, Robert W. Baird upped their target price on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Trading Up 2.4%

Medtronic stock opened at $92.22 on Monday. The business’s fifty day simple moving average is $94.20 and its two-hundred day simple moving average is $90.05. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $118.29 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. The company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. Medtronic’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, September 26th. Medtronic’s payout ratio is presently 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.