Resonant Capital Advisors LLC Buys 2,093 Shares of Medtronic PLC $MDT

Resonant Capital Advisors LLC increased its stake in Medtronic PLC (NYSE:MDT) by 6.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 33,228 shares of the medical technology company’s stock after buying an additional 2,093 shares during the period. Resonant Capital Advisors LLC’s holdings in Medtronic were worth $2,915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Legacy Advisory Services LLC purchased a new position in shares of Medtronic in the 1st quarter worth $541,000. GC Wealth Management RIA LLC lifted its holdings in Medtronic by 20.6% in the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after acquiring an additional 5,734 shares during the period. Verdence Capital Advisors LLC boosted its position in Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after purchasing an additional 5,296 shares during the last quarter. RNC Capital Management LLC boosted its holdings in shares of Medtronic by 8.8% in the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after buying an additional 33,729 shares during the last quarter. Finally, Sivik Global Healthcare LLC grew its position in shares of Medtronic by 6.7% during the 2nd quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock valued at $6,974,000 after acquiring an additional 5,000 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

In other news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were acquired 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 $461,850. The trade was a 100.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’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 value of $788,045.90. Following the sale, 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.

Medtronic Price Performance

MDT stock opened at $93.76 on Friday. 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’s fifty day moving average price is $94.32 and its 200-day moving average price is $89.39. 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 $120.26 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. The company had revenue of $8.58 billion during 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%. Medtronic’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have commented on the company. The Goldman Sachs Group reduced their price target on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research report on Wednesday, October 1st. Sanford C. Bernstein increased their target price on shares of Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research report on Saturday. Finally, Stifel Nicolaus raised their price objective on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $102.82.

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.