Private Wealth Asset Management LLC Decreases Holdings in Medtronic PLC $MDT

Private Wealth Asset Management LLC trimmed its holdings in Medtronic PLC (NYSE:MDT) by 63.5% in the second quarter, HoldingsChannel reports. The fund owned 1,010 shares of the medical technology company’s stock after selling 1,759 shares during the period. Private Wealth Asset Management LLC’s holdings in Medtronic were worth $88,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MDT. 1248 Management LLC purchased a new stake in Medtronic during the first quarter valued at about $26,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic in the 1st quarter valued at about $28,000. Twin Tree Management LP purchased a new stake in Medtronic during the 1st quarter valued at about $29,000. Activest Wealth Management grew its position in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC purchased a new position in Medtronic in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In related news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction that occurred on 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 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at $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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group lowered their price objective on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research report on Wednesday, October 1st. Daiwa Capital Markets upped their price target on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. Evercore ISI raised their price target on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $111.00 target price on shares of Medtronic in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Stock Down 1.3%

MDT stock opened at $95.29 on Thursday. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The company has a market capitalization of $122.23 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 2.54 and a beta of 0.78. The business’s 50 day moving average price is $93.94 and its two-hundred day moving average price is $88.90. 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 (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter last year, the business posted $1.23 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid 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 dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is currently 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.