Cetera Investment Advisers Buys 7,481 Shares of Medtronic PLC $MDT

Cetera Investment Advisers raised its stake in Medtronic PLC (NYSE:MDT) by 1.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 449,507 shares of the medical technology company’s stock after acquiring an additional 7,481 shares during the quarter. Cetera Investment Advisers’ holdings in Medtronic were worth $39,184,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MDT. Legacy Advisory Services LLC bought a new stake in shares of Medtronic during the 1st quarter valued at about $541,000. GC Wealth Management RIA LLC increased its position in shares of Medtronic by 20.6% during the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after purchasing an additional 5,734 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Medtronic by 22.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after buying an additional 5,296 shares in the last quarter. World Investment Advisors lifted its position in Medtronic by 1.9% in the 2nd quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock worth $13,608,000 after buying an additional 2,868 shares during the last quarter. Finally, Sivik Global Healthcare LLC boosted its stake in Medtronic by 6.7% in the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock worth $6,974,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a report on Wednesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $111.00 price target on shares of Medtronic in a research note on Friday, October 10th. Wells Fargo & Company boosted their price objective on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Finally, Stifel Nicolaus raised their target price on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.06.

Medtronic Stock Down 0.2%

Shares of Medtronic stock opened at $95.92 on Monday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The firm has a market cap of $123.04 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 2.42 and a beta of 0.77. The company has a 50-day moving average of $94.43 and a 200 day moving average of $90.43. 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 (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 the consensus estimate of $8.37 billion. During the same quarter last year, the company earned $1.23 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’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 completion of the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.26% of the company’s stock.

Medtronic Company 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.