Medtronic PLC $MDT Shares Bought by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. grew its holdings in Medtronic PLC (NYSE:MDT) by 60.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,680 shares of the medical technology company’s stock after buying an additional 13,039 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Medtronic were worth $3,023,000 at the end of the most recent quarter.

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

Medtronic Stock Up 2.4%

MDT opened at $92.22 on Friday. The firm has a market cap of $118.29 billion, a P/E ratio of 25.41, a PEG ratio of 2.42 and a beta of 0.77. The business’s fifty day simple moving average is $94.20 and its 200 day simple moving average is $90.00. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the firm earned $1.23 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors 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 3.1%. Medtronic’s dividend payout ratio is presently 78.24%.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were bought 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. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 completion of the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. The Goldman Sachs Group dropped their price objective on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research note on Wednesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Stifel Nicolaus lifted their price target on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus 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.