Smith Salley Wealth Management Has $14.19 Million Stock Position in Medtronic PLC $MDT

Smith Salley Wealth Management lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 9.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 162,769 shares of the medical technology company’s stock after selling 17,507 shares during the period. Smith Salley Wealth Management’s holdings in Medtronic were worth $14,189,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Boston Partners increased its position in Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after buying an additional 3,809,450 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after acquiring an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after purchasing an additional 3,017,849 shares during the period. Nuveen LLC acquired a new position in Medtronic during the first quarter worth $260,649,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Medtronic by 220.9% in the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock valued at $216,753,000 after purchasing an additional 1,660,357 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was 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 of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction dated 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 owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by insiders.

Medtronic Price Performance

Shares of MDT stock opened at $94.34 on Friday. The stock’s 50-day moving average is $92.57 and its 200 day moving average is $88.38. The company has a market cap of $121.01 billion, a P/E ratio of 25.99, a PEG ratio of 2.48 and a beta of 0.77. 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 PLC has a 1-year low of $79.29 and a 1-year high of $96.25.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s payout ratio is currently 78.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Leerink Partners started coverage on shares of Medtronic in a research note on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 target price (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. William Blair upgraded shares of Medtronic to a “hold” rating in a research note on Friday, July 11th. Finally, Sanford C. Bernstein lifted their price objective on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus price target of $102.27.

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.