Phoenix Wealth Advisors Sells 1,072 Shares of Medtronic PLC $MDT

Phoenix Wealth Advisors decreased its holdings in Medtronic PLC (NYSE:MDT) by 3.8% in the second quarter, Holdings Channel reports. The firm owned 27,252 shares of the medical technology company’s stock after selling 1,072 shares during the quarter. Phoenix Wealth Advisors’ holdings in Medtronic were worth $2,376,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDT. Vanguard Group Inc. increased its holdings in Medtronic by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock worth $11,233,780,000 after acquiring an additional 810,854 shares in the last quarter. Geode Capital Management LLC raised its stake in Medtronic by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after purchasing an additional 310,684 shares during the period. Bank of New York Mellon Corp lifted its holdings in Medtronic by 2.9% in the 2nd 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 purchasing an additional 595,549 shares in the last quarter. Deutsche Bank AG boosted its stake in Medtronic by 3.1% in the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock worth $1,708,220,000 after purchasing an additional 566,155 shares during the period. Finally, Invesco Ltd. grew its stake in Medtronic by 9.9% during the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock valued at $1,525,876,000 after acquiring an additional 1,535,308 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

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

Medtronic Trading Up 0.3%

Shares of NYSE:MDT opened at $96.12 on Friday. The business’s 50 day moving average price is $94.37 and its 200-day moving average price is $90.26. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The firm has a market capitalization of $123.29 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. 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 (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the prior year, the business posted $1.23 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MDT shares. UBS Group increased their price target on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Daiwa Capital Markets raised their price objective on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. JPMorgan Chase & Co. upped their price target on shares of Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Wells Fargo & Company upped their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $103.06.

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.