Venturi Wealth Management LLC Sells 4,008 Shares of Medtronic PLC $MDT

Venturi Wealth Management LLC lessened its position in Medtronic PLC (NYSE:MDT) by 57.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,974 shares of the medical technology company’s stock after selling 4,008 shares during the period. Venturi Wealth Management LLC’s holdings in Medtronic were worth $259,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MDT. Vanguard Group Inc. increased its stake 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 buying an additional 810,854 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Medtronic by 7.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock worth $2,001,903,000 after buying an additional 1,461,841 shares during the period. Bank of New York Mellon Corp increased its stake in Medtronic by 3.8% in the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock worth $1,858,332,000 after buying an additional 756,192 shares during the period. Deutsche Bank AG increased 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 buying an additional 566,155 shares during the period. Finally, Invesco Ltd. increased its stake in Medtronic by 9.9% in the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after buying an additional 1,535,308 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price target on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a research note on Wednesday, October 1st. Stifel Nicolaus raised their price target on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday. Daiwa Capital Markets raised their target price on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. BTIG Research reissued a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. Finally, UBS Group raised their target price on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.41.

Medtronic Trading Down 1.0%

NYSE MDT opened at $95.52 on Friday. The company’s 50-day simple moving average is $93.56 and its two-hundred day simple moving average is $88.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The company has a market capitalization of $122.52 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 2.54 and a beta of 0.78.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) 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 firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. The company’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. Equities analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

Insider Buying and Selling

In other news, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by 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.