Argentarii LLC Sells 916 Shares of Medtronic PLC $MDT

Argentarii LLC decreased its position in Medtronic PLC (NYSE:MDT) by 28.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,296 shares of the medical technology company’s stock after selling 916 shares during the quarter. Argentarii LLC’s holdings in Medtronic were worth $200,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Arlington Partners LLC increased its stake in Medtronic by 4.7% in the 2nd quarter. Arlington Partners LLC now owns 51,862 shares of the medical technology company’s stock valued at $4,521,000 after buying an additional 2,317 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Medtronic by 14.3% in the second quarter. GAMMA Investing LLC now owns 18,151 shares of the medical technology company’s stock valued at $1,582,000 after acquiring an additional 2,269 shares in the last quarter. Clear Harbor Asset Management LLC increased its position in shares of Medtronic by 4.0% during the second quarter. Clear Harbor Asset Management LLC now owns 9,942 shares of the medical technology company’s stock valued at $867,000 after acquiring an additional 384 shares during the last quarter. ABLE Financial Group LLC increased its position in shares of Medtronic by 17.2% during the second quarter. ABLE Financial Group LLC now owns 5,818 shares of the medical technology company’s stock valued at $507,000 after acquiring an additional 854 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Medtronic by 1.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 137,494 shares of the medical technology company’s stock worth $11,985,000 after acquiring an additional 1,416 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Up 0.3%

MDT opened at $94.95 on Wednesday. The firm has a market capitalization of $121.79 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 2.49 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. The company has a fifty day moving average price of $92.27 and a 200-day moving average price of $88.34. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25.

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, beating the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio is currently 78.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Sanford C. Bernstein lifted their target price on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Truist Financial raised their price objective on shares of Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a report on Thursday, August 21st. BTIG Research reiterated a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Robert W. Baird raised their price target on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.27.

Insider Buying and Selling

In other news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

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.