Medtronic PLC $MDT Shares Sold by Petros Family Wealth LLC

Petros Family Wealth LLC reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 23.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,393 shares of the medical technology company’s stock after selling 718 shares during the period. Petros Family Wealth LLC’s holdings in Medtronic were worth $209,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. 1248 Management LLC purchased a new position in shares of Medtronic during the 1st quarter worth $26,000. Columbia River Financial Group LLC acquired a new stake in Medtronic during the first quarter worth about $28,000. Twin Tree Management LP acquired a new stake in Medtronic during the first quarter worth about $29,000. Activest Wealth Management raised its stake in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in Medtronic in the 1st quarter valued at about $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MDT has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Truist Financial raised their target price on Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a research note on Thursday, August 21st. Daiwa Capital Markets lifted their target price on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Wells Fargo & Company increased their price target on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Mizuho boosted their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.94.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated 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 owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was bought 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 in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Performance

NYSE MDT opened at $97.63 on Monday. 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 market cap of $125.23 billion, a P/E ratio of 26.90, a P/E/G ratio of 2.57 and a beta of 0.78. The stock has a 50-day moving average of $92.94 and a two-hundred day moving average of $88.46. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $97.94.

Medtronic (NYSE:MDT) last issued its quarterly earnings results 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. The business 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 in the prior year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. Medtronic’s payout ratio is 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.