PDS Planning Inc Sells 285 Shares of Medtronic PLC $MDT

PDS Planning Inc lessened its holdings in Medtronic PLC (NYSE:MDT) by 8.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,992 shares of the medical technology company’s stock after selling 285 shares during the quarter. PDS Planning Inc’s holdings in Medtronic were worth $261,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Medtronic by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock valued at $11,233,780,000 after purchasing an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 valued at $2,001,903,000 after purchasing an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $1,858,332,000 after purchasing an additional 756,192 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Medtronic by 3.1% in the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after purchasing an additional 566,155 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Medtronic by 9.9% in the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock valued at $1,525,876,000 after purchasing an additional 1,535,308 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $95.52 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The company has a market capitalization of $122.52 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The company’s 50 day moving average price is $93.56 and its two-hundred day moving average price is $88.74. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate 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 period last year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced 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. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is 78.24%.

Insider Activity at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction 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 acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 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 sale, the executive vice president 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. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MDT. Morgan Stanley reiterated an “overweight” rating and issued a $107.00 price target (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $111.00 price target on shares of Medtronic in a research report on Friday. Finally, Sanford C. Bernstein increased their price target on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.41.

Medtronic 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.