Angeles Wealth Management LLC Grows Position in Medtronic PLC $MDT

Angeles Wealth Management LLC grew its position in shares of Medtronic PLC (NYSE:MDT) by 20.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,970 shares of the medical technology company’s stock after acquiring an additional 661 shares during the period. Angeles Wealth Management LLC’s holdings in Medtronic were worth $346,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Sage Private Wealth Group LLC increased its position in shares of Medtronic by 16.8% during the 2nd quarter. Sage Private Wealth Group LLC now owns 4,072 shares of the medical technology company’s stock valued at $355,000 after purchasing an additional 587 shares during the last quarter. Stratos Investment Management LLC increased its position in shares of Medtronic by 1.0% during the 2nd quarter. Stratos Investment Management LLC now owns 32,997 shares of the medical technology company’s stock valued at $2,876,000 after purchasing an additional 317 shares during the last quarter. Smithbridge Asset Management Inc. DE increased its position in shares of Medtronic by 3.6% during the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 62,418 shares of the medical technology company’s stock valued at $5,441,000 after purchasing an additional 2,140 shares during the last quarter. Tower Wealth Partners Inc. bought a new position in shares of Medtronic during the 2nd quarter valued at about $224,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Medtronic during the 2nd quarter valued at about $294,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

Shares of Medtronic stock opened at $95.62 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The stock has a market capitalization of $122.65 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 2.50 and a beta of 0.78. The business’s 50 day simple moving average is $94.07 and its two-hundred day simple moving average is $88.98.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. The business’s 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. Analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic’s payout ratio is 78.24%.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction that occurred 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 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. BTIG Research reiterated a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. Wells Fargo & Company raised their price target on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Truist Financial lifted their price target on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research note on Wednesday. Mizuho lifted their price target on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Finally, Evercore ISI lifted their price target on Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

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.