Medtronic PLC $MDT Stock Holdings Lowered by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC cut its position in Medtronic PLC (NYSE:MDT) by 28.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,556 shares of the medical technology company’s stock after selling 4,600 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in Medtronic were worth $1,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDT. 1248 Management LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $26,000. Twin Tree Management LP acquired a new stake in Medtronic in the 1st quarter valued at approximately $29,000. Activest Wealth Management increased its position in Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after acquiring an additional 322 shares during the period. Hughes Financial Services LLC bought a new stake in Medtronic during the 1st quarter valued at $32,000. Finally, Investment Management Corp VA ADV boosted its position in Medtronic by 144.2% during the 1st quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock worth $36,000 after acquiring an additional 238 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In other news, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 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 represents a 19.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Down 0.3%

MDT stock opened at $90.10 on Friday. The firm has a market cap of $115.57 billion, a PE ratio of 24.82, a P/E/G ratio of 2.42 and a beta of 0.77. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The firm has a 50 day simple moving average of $94.21 and a 200 day simple moving average of $89.88.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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. The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were given a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.2%. Medtronic’s dividend payout ratio (DPR) is 78.24%.

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. Robert W. Baird raised their price target on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Morgan Stanley restated an “overweight” rating and set a $107.00 price target (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. UBS Group increased their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Finally, William Blair upgraded shares of Medtronic to a “hold” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.