Gries Financial LLC Lowers Stock Holdings in Medtronic PLC $MDT

Gries Financial LLC lessened its position in Medtronic PLC (NYSE:MDT) by 31.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,068 shares of the medical technology company’s stock after selling 1,406 shares during the quarter. Gries Financial LLC’s holdings in Medtronic were worth $267,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MDT. Burkett Financial Services LLC grew its position in Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 185 shares in the last quarter. 1248 Management LLC purchased a new position in shares of Medtronic in the first quarter valued at approximately $26,000. Wood Tarver Financial Group LLC purchased a new position in shares of Medtronic in the fourth quarter valued at approximately $27,000. Columbia River Financial Group LLC acquired a new position in shares of Medtronic in the first quarter valued at approximately $28,000. Finally, Twin Tree Management LP purchased a new stake in Medtronic during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of the stock in a transaction dated Monday, August 25th. The stock was acquired 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 in the company, valued at approximately $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction on 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 trade represents 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 insiders.

Medtronic Stock Up 0.3%

Medtronic stock opened at $94.95 on Wednesday. The stock has a market cap of $121.79 billion, a PE ratio of 26.16, a P/E/G 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 stock’s fifty day moving average is $92.27 and its two-hundred day moving average is $88.34. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business 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 firm posted $1.23 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. 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 3.0%. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Analysts Set New Price Targets

MDT has been the subject of several recent research reports. Leerink Partners began coverage on shares of Medtronic in a research report on Monday, June 16th. They issued an “outperform” rating and a $110.00 price target for the company. Evercore ISI increased their price objective on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Argus upped their price target on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 price target (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $102.27.

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.