Medtronic PLC $MDT Stock Holdings Trimmed by Phoenix Wealth Advisors

Phoenix Wealth Advisors reduced its position in Medtronic PLC (NYSE:MDT) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,324 shares of the medical technology company’s stock after selling 279 shares during the quarter. Phoenix Wealth Advisors’ holdings in Medtronic were worth $2,545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC increased its holdings in Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after buying an additional 185 shares during the last quarter. Columbia River Financial Group LLC bought a new stake in Medtronic in the first quarter valued at about $28,000. Wood Tarver Financial Group LLC bought a new stake in Medtronic in the fourth quarter valued at about $27,000. Hughes Financial Services LLC bought a new stake in Medtronic in the first quarter valued at about $32,000. Finally, Optiver Holding B.V. bought a new position in shares of Medtronic during the fourth quarter valued at approximately $31,000. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on MDT shares. UBS Group upped their target price on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial upped their target price on Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a report on Thursday. Robert W. Baird upped their target price on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday. Wolfe Research raised Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Finally, Leerink Partnrs raised Medtronic to a “strong-buy” rating in a report on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.15.

Medtronic Stock Performance

Shares of MDT stock opened at $92.6210 on Friday. The firm has a market capitalization of $118.72 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25. The business has a 50 day simple moving average of $89.73 and a 200 day simple moving average of $88.03.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The firm 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 14.56% and a net margin of 13.63%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio is 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.